No. They transferred their mind to new bodies, called sleeves. They had laws against double sleeving, putting your mind into more than one body, cause that causes all sorts of issues. The tech was basically what you’re stopped to do for computers back up data and when something happens to the computer you put the same data on the new machine. The basic version was local storage called a stack that resided at the base of the neck. That’s why executions killed the person and the stack. The rich had offside backups as well.

This is closer to In Time where the single body was kept alive and they used time to pay for things. The rich had thousands, probably much more, years stocked up. It’s been quite a while since I’ve seen it.