In the work of the Office of National Statistics each of us is a number, part of crunching and analysis that produces a profile of our population and its trends. What comes out in regular reports is statistically significant and whilst for each of us there are no guarantees or givens in the figures about our individual futures, our hopes and expectations can and do shift in relation to the changing picture.
The population of the UK is ageing. Over the last 25 years the percentage of the population aged 65 and over increased from 15 per cent in 1984 to 16 per cent in 2009, an increase of 1.7 million people. By 2034, 23 per cent of the population is projected to be aged 65 and over, compared to 18 per cent aged under 16.
The fastest population increase has been in the number of those aged 85 and over, the “oldest old”. In 1984, there were around 660,000 people in the UK aged 85 and over. Since then the numbers have more than doubled reaching 1.4 million in 2009. By 2034 the number of people aged 85 and over is projected to be 2.5 times larger than in 2009, reaching 3.5 million and accounting for 5 per cent of the total population.
The ratio of women to men in those aged 65 and over is also falling. In 1984 there were 156 women aged 65 and over for every 100 men of the same age, compared to the current sex ratio of 129 women for every 100 men. By 2034 it is projected that the 65 and over sex ratio will have fallen still further to 118 women for every 100 men.
Life expectancy at birth is increasing but an even more telling figure is the increase in life expectancy after 60. In the UK, a man who turned 60 in 1981 could expect to live another 16 years and a woman almost 21 years. By 2003 this had increased to 20 years for men and 23 for women. According to official UK projections, by 2026 this will rise to almost 24 years for men and almost 27 for women.
The message for men aged between 60 and 70might now be – ‘you have more of a future than you might have thought’.
However beyond the national statistics, other national research based messages are likely to be:
- stay active, exercise, watch your diet and stay healthy!
- live every day to the full
- be active, socially and mentally, seek interests
- take on new challenges!
Review, plan and manage your financial future to maximise funding for longer term opportunities for travel, adventure, excitement and leisure!
We may not be able to help you to live your life more healthily, but we may be able to help you review your financial options and planning. Contact us we will be happy to help.