UK's over-85 population set to double by 2045 - govt projections

Aged population to double in 25 years

Jenna Brown
clock • 3 min read

The social care system will come under ever-increasing pressure as the number of people in the UK aged over 85 is set to double in the next 25 years, according to official projections, raising questions about the system’s ability to cope.

The government statistics, released on Wednesday (12 January), project the number of people living past 85 will increase from 1.7 million in 2020 to 3.1 million by 2045. This cohort of the population will then make up about 4.3% of the total. Just Group said the numbers "lay bare" the challenge faced by the social care system. The government last year announced major reforms to social care funding with a 1.25% increase to National Insurance scheduled from 2022/23 and a cap on care costs set at £86,000. The cap, however, does not include accommodation costs and has faced questions on how ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Cheap income guarantees cut through annuity stereotype

Cheap income guarantees cut through annuity stereotype

'No longer do clients need to trade off a big drop in income'

Mark Battersby
clock 17 April 2023 • 2 min read
Later life planning piquing the lion's share of advisers' interests

Later life planning piquing the lion's share of advisers' interests

Latest Canada Life research looks at challenges and opportunities

Hope William-Smith
clock 04 April 2023 • 1 min read
Paid for financial review appeals to half of pre-retirees

Paid for financial review appeals to half of pre-retirees

Quarter of pre-retirees would look to IFAs for help

Jenna Brown
clock 04 April 2023 • 2 min read