“Retirement at sixty-five is ridiculous. When I was sixty-five, I still had pimples.” - George Burns

The UK population is growing older! Over the last 25 years the population aged 65 and over has increased by 1.5 million. The fastest population increase has been in the number of those aged 85 and over. As a result of increases in the number of people, the median age of the UK population is increasing.

West Somerset had the oldest median age in the UK at 52 years (Office of National Statistics). In 2010 there were around 12 million pensioners in the UK, projected to rise to 16 million by 2050 (Department for Work & Pensions). There are 12,000 people aged 100 or over in the UK. In 10 years time this will have nearly doubled to 22,000 (Department for Work & Pensions).

• The number of 100 year olds and over is projected to reach 281,000 by 2051 (Department for Work & Pensions).

In 1997, at the age of 90, Alec Holden bet £100 with William Hill that he would live to be 100. He was offered odds of 250-1. In 2007 Alec celebrated a £25,000 win and today, William Hill only offer odds of 10-1 for the same bet. This is another good indicator of how life expectancy can change over just one decade.

“It is clear that in the coming years an older society offers great opportunities as well as challenges. Opportunities for those in retirement to continue working, learning and contributing to society, but challenges around how best to support this group.” - Lord McKenzie