UK population growth won’t affect proportion of pensioners

The population of the UK is expected to grow by approximately 3 million people by 2028, though according to the latest ONS data, this won’t affect the number of people of pensionable age.

Over the next ten years, the UK population is forecast to grow from an estimated 66.4 million people in mid-2018, to 69.4 million in 2028. The ONS revealed that 27% of UK population growth is projected to result from more births than deaths, with 73% resulting from net international migration.

There will be an increasing number of older people, as the proportion aged 85 years and over is projected to almost double over the next 25 years – though because the Government is expected to increase the State Pension age, the ONS doesn’t expect much change from the current proportion of living pensioners in the UK.

The ONS commented: “Although migration declines at first, and the number of births is stable, the number of deaths is projected to grow as those born in the baby boom after World War Two reach older ages.

“The population is increasingly ageing, and this trend will continue. However, because of the expected rise in the State Pension age to 67 years, it is projected that slightly fewer than one in five people will be of pensionable age in 2028, a similar proportion to today.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.