Pensioners outnumber under-16s for first time

The landmark figures show that the number of pensioners now exceeds those under 16 by more than 50,000, the first time this has been recorded. It represents a massive demographic shift over the last 40 years and reveals almost 20% of the population is now over 80 whereas, in 1971, only 15% were of pensionable age. The statistics suggest the move to the at-retirement market by a number of financial advisers and providers has been timed correctly. The annual growth rate in the number of people reaching retirement age, which had stayed at less than 1% for 26 years, has doubled in the past y...