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Demographics

Table 1: Projected number of people in the UK of State Pension age (SPa) or older[1]  

 

 

Projected number of people of SPa or older (thousands)

2018

2019

2020

2030

2040

2050

Women

6,723

6,582

6,497

7,332

8,672

8,790

Men

5,559

5,530

5,462

6,290

7,487

7,560

Total

12,283

12,112

11,958

13,622

16,159

16,351

Total as % of working age population

30%

29%

28%

31%

37%

36%

 

Important: The table also takes into account planned increase in the SPa for both men and women to 66 in 2020, and the provision in the Pensions Act 2014 for the increase in SPa to 67 to be brought forward to occur between 2026 and 2028. It is assumed that the increase from 67 to 68 takes place between 2044 and 2046 as currently legislated, however this may be brought forward as a result of the SPa review set out in the Pensions Act 2014. [2]

 

[1] ONS 2016-based principal projections for the UK

https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationprojections/datasets/tablea11principalprojectionuksummary

[2] see PPI (2019) The Pensions Primer: a guide to the UK pensions system for further information

 

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