The number of centenarians in England and Wales has risen over the past year, raising concerns over the adequacy of retirement savings.
New figures from the Office for National Statistics reveal that an estimated 581,414 people aged 90 and over were living in England and Wales in 2025, including 15,172 centenarians.
The centenarian population has risen by 3.7% year-on-year and more than doubled since 2002.
The number of over-90s has also jumped by 54% since 2005.
Ed Monk, pensions and investment expert at Fidelity International, said: “This demographic shift matters because many retirement plans may stop well before the ages that growing numbers of people are reaching.”
According to Fidelity’s own research, 35% of UK adults aged 50 and over could be underprepared for retirement by at least a decade when their plans are compared with average life expectancy. When tested against the possibility of living to 100, this rises to 74%.
Monk said: “The risk is not simply living longer; it is planning as though we will not. Retirement plans should be stress-tested against inflation, weaker investment returns, and unexpected later-life costs, while recognising that spending is likely to change over time.
“Planning for a longer life is ultimately about retaining flexibility. Reviewing pension contributions, making full use of employer matching, adjusting spending expectations and, where appropriate, considering sustainable withdrawals or a phased move into retirement can all help make a plan more resilient. Retirement plans should also be revisited regularly as markets, health, family circumstances, and spending needs change.”
David Brooks, head of policy at Broadstone, said: “While greater longevity is something to celebrate, it also presents significant challenges for the State, as a growing older population increases demand for the State Pension, social care and other benefits. With fewer working-age people supporting an expanding retired population, the pressure on public finances will only intensify.
“While the record number of centenarians grabs attention, policymakers should focus on the far larger population aged 90 and over. More than half a million people are now in this age group, and it is this broader demographic shift that will place the greatest pressure on pensions, healthcare and social care services over the coming decades.
“The Government will need to think carefully about how the costs of longer lives are shared across generations. Without reform to taxation, pensions and the care system, those of working age could increasingly be asked to shoulder a greater share of the financial burden.”
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