Explosion in 85 plus year olds set to put massive pressure on Long Term Care funding
Explosion in 85 plus year olds set to put massive Long Term Care funding burden on workers and State – as Partnership reveals UK’s oldest councils now and in 2030
- Oldest councils transform into virtual retirement communities as life expectancy rises dramatically.
- Over 85s, who are most likely to require long term care, to increase by 60% across UK.
- For every 4 people working in 2030, in the oldest council areas, 3 will be retired.
- Burden on future workforce to fund care, as under 16s fall to 2 for every person aged over 85 years in oldest councils.
- Without proper financial advice the cost of people running out of funds early to meet their long term care costs and falling back on the state is set to nearly treble in England alone to £2.75 bn.
A MASSIVE explosion in the numbers of people living to 85 and beyond will put huge pressures on workers and State funding for the long term care of older people in the next 20 years, according to an investigation of Office of National Statistics (ONS) data* by retirement solutions specialist Partnership.
Partnership’s investigation reveals the ‘oldest’ council authorities in the UK in 2010 and with projections for 2030, the anticipated dramatic increase in life expectancy means that the UK’s ‘oldest’ councils (see tables below) will be transformed into virtual retirement communities.