Useful stats

Numbers around the older population needs and desires.

Income and expenditure

  • On average, women retiring in 2016 expect to have around £14,450 a year to live on, the highest figure since Prudential started its annual survey in 2008. On average, men retiring in 2016 expect to have an annual income of £19,850, showing a significant gender gap.
  • After the age of 50 the wealthiest 25% of households can expect to spend £1.4m for the rest of their lives – that’s half a million pounds more than the average households. After the age of 65 average households will spend £420,000, while that top quarter spends £683,000,  Typical retired households will spend £99,500 having fun, including £41,000 on holidays. (Tilney report “The cost of tomorrow”, Feb 2017)

Homes

  • 1 per cent of the UK’s 5 million homeowners over 65 moved house in 2014 according to Moray McDonald, chairman of the Council of Mortgage Lenders, quoted in the Daily Mail 8 Sept 2015
  • Six million older Britons live in houses with two or more excess bedrooms. Since 2005 there has been a significant increase in the number of 65 to 74 year olds living alone to 300,000. (International Longevity Centre (ILC-UK) report 2016)

Working life

Markets

  • The Global Elderly and Disabled Assistive Market, for products that enable enable the elderly and disabled population to carry out their everyday activities that involve movement, hearing, and reading with ease, will grow at a CAGR of 5.59 percent over the period 2014-2019 according to MedGadget

Life expectancy

  • The life expectancy of a woman aged 65 in 1841 was 11.5 years and reached 20.9 years in 2011. For men of the same age it was 10.9 years in 1841 and 18.3 years in 2011. (Office of National Statistics Sept 2015)
  • There are currently 11 million people in the UK over the age of 65 (Jan 2016), a figure that is set to increase to 14 million by 2032.
  • The Queen sent almost 15,000 congratulatory messages to people celebrating their 100th birthday last year, compared with fewer than 3,000 in 1952, the first year of her reign. (From The Independent 6 Jan 2016)
  • Life expectancy for men aged over 65 up 4.5 years, according to World Health Organisation (Jan 2016) http://www.cambridge-news.co.uk/Life-expectancy-men-aged-65-4-5-years-says/story-28331061-detail/story.html
  • British people receive a message from the Queen on their 100th birthday. A decade ago, one assistant sent the cards. Today, it takes seven. (Financial Times, 9 June 2016)

Care homes

  • There are 16,500 care homes in England, looking after more than 300,000 residents
  • If nursing homes are included, the number of residents exceeds 400,000 (500,000 across the whole UK) (these two stats on the BBC web site 1 Feb 2016)
  • There are about 20,000 care homes in the UK, including residential care for the disabled, or mentally ill. Roughly half of the beds are provided by smaller companies. (FT.com, April 2016)

Health

  • The King’s Fund estimates that falls account for 40% of all ambulance call outs, and are a major cause of older people being admitted to hospital. It puts the cost of falls to the England’s NHS at £2bn a year. (Guardian 20 April 2016)

Financial

  • 93% of UK baby boomers are currently using or considering using online banking services while 46% are using or considering using mobile banking. (The numbers are slightly lower for the already retired.) This contrasts sharply with millennials, of whom 67% are using or considering using mobile banking. (Figures from PwC, 2017, quoted in an engagehub report on mobile banking)

Retail

Social media

  • Facebook is far and away the most preferred social media for older consumers (55+) according to a US survey by Sprout Social. YouTube is the second most preferred platform. The survey also found that 55% of these baby boomers are willing to follow a brand online before buying a product with a keen interest in deals and promotions as well as information. Baby boomers are most likely to disengage from the brand if they see behaviour as spammy. (March 2017)

Dementia

  • 850,000 Britons living with dementia list shopping as their favourite activity (Alzheimer’s Society 2016)
  • Over 60% of people living with dementia have three or more concurrent conditions, ranging from acute conditions such as heart attacks and strokes to chronic conditions such as diabetes. (UK All Party Parliamentary Group on Dementia UK September 2015)
  • According to the World Health Organisation the number of people living with dementia will rise from 44 million today to 135 million by 2050
  • An Alzheimer’s Society Freedom of Information request about dementia patients in hospitals resulted in the discovery that one in four hospital beds is believed to be occupied by a person with dementia. (Jan 2015 http://www.bbc.co.uk/news/health-35312620). Additionally:
    • more than one in four people over the age of 65 who fell had dementia, but in some trusts it topped 70%
    • people with dementia stay five to seven times longer than other patients over the age of 65 in the worst-performing hospitals
    • one in 10 people over 65 who were discharged overnight had dementia – with the numbers rising to nearly four in 10 in the worst trusts
    • more than half of over-65s readmitted within 30 days – a sign of inappropriate care – had dementia in the worst-performing trust
  • There are more than three million people who currently have work and family caring
    responsibilities. Giving them support to manage caring alongside paid work would benefit them and their families and give British businesses and the UK economy a potential saving of up to £1.3 billion a year. Government Equalities Office, 2015
    • A failure to prevent, diagnose, and treat depression, diabetes and urinary tract infections in people with dementia could be costing the UK’s health and social care system up to nearly £1 billion per year
    • 42% of people over 70 making an unplanned admission to an acute hospital have dementia.
    • Hospital in-patients with dementia are over three times more likely to die during their first admission to hospital for an acute medical condition than those without dementia.
    • Four of the five most common comorbidities people with dementia are admitted to hospital for in the UK are preventable conditions – a fall, broken/fractured hip or hip replacement, urine infection and chest infection.
    • In England, people with dementia are substantially less likely to receive age-related treatment to stop loss of vision