Rise in predicted deaths could mean an extra £650m in legacies over the next five years

Legacy Foresight says the new figures from the Office for National Statistics could lead to a 4 per cent increase in the value of charitable bequests

A rise in the number of deaths predicted by the Office for National Statistics over the next five years will result in £650m more legacy income for UK charities, according to Legacy Foresight.

The ONS figures, published at the end of last month, predict that 3.1 million people will die over the next five years to 2024, a rise from the three million deaths predicted in the last set of figures, produced in 2017.

The legacy consortium Legacy Foresight said the extra 123,000 predicted deaths would result in an increase of 4 per cent in the total value of legacy gifts to charities, to £16.25bn.

Legacy Foresight estimates there will be an extra 26,000 gifts, with an average value of £25,000.

Meg Abdy, development director at Legacy Foresight, said: "Death rates are one of the key factors that determine the number and size of bequests charities can expect to receive. In the short to medium term these new projections will boost charity income, especially among larger charities.

"It’s important to remember that, although improvements in life expectancy are not as optimistic as previously thought, people will still live longer on average than they do today.

"By 2050 1.5 million people will be aged 90 or over. This might be lower than the 1.8 million predicted back in 2016, but it’s still more than double the 600,000 we see today."

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