The latest population projections from the ONS reveal that between mid-2021 and mid-2036, the population of over 85s in the UK is expected to grow from 1.6 million to 2.6 million – an increase of 1 million – through the period. The ONS figures follow the latest Census data which showed an extra 420,000 over 65s living alone between 2011 and 2021 (a total of 3.3 million, or three in 10 people among this age group) with research showing a close link between living alone, poor health and greater use of public health services.
Advice businesses therefore need to ensure have later life planning in place to meet what will be growing demand among clients for assistance in meeting care expenses.
Retirement specialist Just Group said the data emphasises the challenges facing the UK care system with ‘a demographic time-bomb set to hit a sector that is already struggling to cope with demand’.
Stephen Lowe, group communications director at JUST, said: “The population projections show that the clock is running down on a demographic time bomb for the UK’s creaking social care sector. An extra one million over 85s are expected by 2036 which is a huge increase as we trend towards an ageing population.
“Many of these people will eventually rely on public services for care and support, especially as Census data tells us that more elderly people are living by themselves, yet the system is already struggling to cope.
“Just Group’s Care Report has been running for over 10 years and shows year after year that millions of people are not prepared for the eventuality that they may need care in later life. Our latest research revealed three-quarters (75%) of those aged over 65 had not thought about care, planned for it or spoken to loved ones about it.
“Who can blame them? Twenty years of pronouncements and retreats on government policy have left the public confused and losing faith that the problem will ever be tackled. As we hurtle towards a General Election we are once again hoping to see a clear focus on delivering an achievable, funded social care policy that can handle the pressures it will face over the coming decades.”
