‘Opportunities and challenges’ with UK’s ageing population

More than 25% of people will be 65 or over in the next 50 years

Nearly one in four people living in the UK will be 65 or older in less than 20 years, according to official population projections.

The proportion of inhabitants in the age group stood at nearly one in five last year.

Demographers project that it will reach 24% by 2037, with more than a quarter of residents aged 65 or over within the next 50 years.

By 2066, there could be an additional 8.6 million inhabitants in the age bracket, meaning it will grow by a figure roughly equivalent to the number living in present-day London.

The rise would take the number of people who are 65 and over to 20.4 million – accounting for 26.5% of the projected population, according to analysis by the Office for National Statistics (ONS).

The report, which draws together a range of previously released data, said the UK population reached a new high of 66 million in mid-2017 and is projected to continue growing, reaching almost 73 million by 2041.

Sarah Coates, of the ONS’s centre for ageing and demography, said the UK population has doubled over the last 140 years.

She said: “This growth is due to there being more births than deaths and more people moving to the UK than leaving.

“As well as growing, the population is also ageing.

“From looking at past patterns, we project that more than a quarter of UK residents will be aged 65 years or over within the next 50 years.”

The analysis noted that with ongoing advances in technology, healthcare and lifestyles, people in the UK are living longer on average than they might have in years gone by.

The paper said: “According to projections, the population share of later-life age groups is set to increase further in future years too.

“By 2041, the 1960s baby boomers will have progressed into their 70s and 80s, and by 2066 there could be an additional 8.6 million people aged 65 years and over in the UK.”

The ONS said a longer-living population presents “both opportunities and challenges for many policy areas and aspects of society”.

It added: “While pressure is expected to mount on many sectors and services – such as social care, healthcare, transport, pensions and housing – our longer working lives, coupled with the growing population, ought to increase the size and productive capacity of the UK’s workforce.”

We project that more than a quarter of UK residents will be aged 65 years or over within the next 50 years