Phoenix Share Discussion Threads

[rcturner2] 09/8/2018 14:22

The massive overuse of drugs in the western world is a serious and growing problem.

[pierre oreilly] 09/8/2018 14:02

Do you have any kids? If so, how did the non-drugs policy go down with your wife during labor?

If you don't need drugs then great, no one wants to force any down your throat. But there are plenty who need drugs to survive, and it's silly thinking, as you seem to imply, they should go without them too.

Too many drugs are prescribed these days imo, but that's partly to do with doctors having only 10 minutes to get the patient out and the next one in. And prescriptions being free to most who insist on them.

[rcturner2] 09/8/2018 13:08

nobby, there are 1bn prescriptions every year in the UK, that's 20 a year for every man, woman and child.

How many of those do you think are for the type of conditions you mention?

I haven't had a prescription in the whole time I have been with my wife, which is over 13 years, and probably for much longer before that as well.

[nobbyx] 09/8/2018 12:51

It's easy to refuse to take drugs if one doesn't really need them. Very few of the unfortunates who catch a dose of plague, typhoid, typhus fever, cholera, malaria or the like ever turn away the appropriate life-saving drug...

[rcturner2] 09/8/2018 12:02

He does lol.

[pierre oreilly] 09/8/2018 11:49

Does he have the odd glass of wine?

Having said that, it seems sensible to me to take the minimum drugs possible (with the exception of alcohol!) - he's exceptionally lucky not to need any.

[pierre oreilly] 09/8/2018 11:14

ok, yeah i see your point. I should have said 'while all the bad things, bad chemicals, bad food were entrenched in society, people are living 10 years longer'

often 'bad' memes don't turn out to be bad afterall ..... just like the cholesterol meme, apparantly

[zangdook] 09/8/2018 10:56

"All the 'bad things' and 'bad chemicals' and 'bad food' over the last 60 years has resulted in people living on average 10 years longer."

You sure about the correlation there Pete?

[pierre oreilly] 09/8/2018 10:04

Aleman, maybe when you were a kid, an old person was in his 60s. Now an old person is in their 80s.

All the 'bad things' and 'bad chemicals' and 'bad food' over the last 60 years has resulted in people living on average 10 years longer.

Maybe evolution has made the brain, and knees, and spine, have a 70 year healthy life, while we are now jollying along into our 80s and 90s, often with worn out knees and a worn out spine and a worn out brain.

[schofip] 09/8/2018 00:35

Statins are part of the multi billion $ per year the drug companies are making. This money then filters down to decision makers and prescribers and so the show goes on.

I have seen lots of info that say statins are a waste of time but who is going to blow the whistle when they are all having their pockets lined.

[eeza] 08/8/2018 22:15

Irradiated food, herbicides, pesticides, too much TV, mobile phones/masts, boredom, loneliness, microwaves, junk food, chilled food, not enough excercise, money worries for a lot of people because saving rates no longer sustain retirement et al.

Take your pick

[fenners66] 08/8/2018 21:54

Chemicals in our environment - whether from the medicines or just cleaning products ?

Maybe diesel particulates ?

Who knows - it's surely something we are doing to ourselves.

[1longshorts] 08/8/2018 17:47

I suppose the real assessment lies in what age groups are experiencing the greatest fall in life expectancy. If it's people in their 50s then they have not even drawn their pension. I keep reading in various articles that the post war baby boomers-despite dementia or whatever-will live longer than most because of their diet compared to the modern trash on offer and that in spite of improved medicines. All a bit depressing unless your selling a pension of course.

[rcturner2] 08/8/2018 09:55

Yes the slowing of life expectancy increases is good for Phoenix as the capital that has to be kept will be released quicker.

[jonwig] 08/8/2018 09:54

@ 1longshorts - it's the annuities. They wrote £529m of new annuity business last year (mostly guaranteed) and have moved into bulk annuity business. So it's a big factor in their solvency calculations.

Pensions involves money-purchase annuites on retirement, of course, unless the owner wants to cash in in which case the cost will benefit Phoenix. The actuarial calculations change from year to year.

[1longshorts] 08/8/2018 09:29

I may be wrong but aren't Phoenix more into pensions than life assurance. If that is the case the slowing of life expectancy can only leave more funds in the kitty if the reserves have been based on solid actuarial statistics?

[jonwig] 07/8/2018 11:23

fenners - just looked back in ARs, can't find.

But the ever reliable Daily Mail says it was last winter (17-18):



This could develop into a pretty gruesome exchange ... we'd better kill it off.

[fenners66] 07/8/2018 11:06

I thought they said a couple of years ago that the life expectancy had stalled - due mainly to the wrong flu vaccination being used one winter and subsequent large increase in deaths...

[jonwig] 07/8/2018 10:47

FT:

Improvements in life expectancy have slowed more dramatically in the UK than in any other major developed economy barring the US, the Office for National Statistics said on Tuesday.

Until 2011, the UK — in common with most of the developed world — had made steady gains in life expectancy for several decades, thanks to medical advances and a decline in the number of smokers.

Between 2000 and 2011, life expectancy at birth improved by an average of 13.1 weeks per year for men and 9.4 weeks per year for women across 11 countries. Since 2011, the average improvement has slowed to 10.4 weeks per year for men and 6.7 weeks per year for women.

But in the UK, the rate of improvement for men fell by 76 per cent, from 17.3 weeks per year in the five years up to 2011 to 4.2 weeks per year in the five years following. For women, improvements reduced from 12.9 weeks a year to 1.2 weeks a year.



This looks pretty significant, as longevity trends are given as a major risk to meeting cash flow targets. Rising interest rates will help, but I doubt the impact will be noticeable enough yet.

[skinny] 03/8/2018 08:06

Nicholas Lyons appointed as Chairman of Phoenix Group

The Board of Phoenix Group Holdings is pleased to announce that Nicholas Lyons has been appointed as Group Chairman effective from 1st September 2018, subject to regulatory approval.

Nicholas is currently a Non-Executive Director of a number of financial institutions including Pension Insurance Corporation, where he is the Senior Independent Director. He was previously on the boards of Friends Life Group Limited and Friends Life Holdings plc.

Nicholas read History at Cambridge before joining J P Morgan where he worked for 12 years in Debt and Equity Capital Markets and Mergers and Acquisitions. He then spent eight years at Lehman Brothers, as a Managing Director in their European Financial Institutions Group, ending his executive career as Global Co Head of Recruitment. Nicholas is an Alderman in the City of London Corporation.

Henry Staunton, Phoenix Group Chairman writes: "Nicholas is a tremendous choice to be my successor. He recognises the potential that the Group has following its impending acquisition of Standard Life Assurance, and he has extensive experience in the life sector."

Nicholas Lyons added: "I am extremely pleased to be joining Phoenix at this exciting time. Henry and Clive have built a strong platform and an outstanding team and there are excellent opportunities ahead. I look forward to working with the Board, management and shareholders in the years to come."

Alastair Barbour, Senior Independent Director, Phoenix Group, added: "On behalf of everyone on the Board at Phoenix, we pay tribute to Henry's leadership through this transformational period for the Group. Henry leaves Phoenix stronger and more confident than it has ever been and the Board thanks him for his leadership and guidance."

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