The biggest change for the over 65s in almost 50 years is that they live longer and spend more years suffering from a chronic illness.
Experts have looked at the lifestyles of over 65s in 1972 and compared them with those of the same age now.
Although today’s over 65s are more likely to own a home and have a degree, they live longer but also suffer longer from serious illness.
A woman retiring now should expect to live until she is 86, but will spend the last decade suffering from poor health, such as arthritis or dementia.
Men will live until they are 83, spending more than eight years coping with illness or disability.
Not everyone shares the gains
Ben Franklin, Head of Economics at the International Longevity Centre-UK led the team that produced the report.
“In some areas, such as life expectancy, we continue to be making gains, but that these gains have not been shared by everyone. Supporting longer, healthier lives must be a critical priority for government and employers.
“Only through such an effort will we be able to succeed in a number of key policy areas, such as: raising state pension ages and securing a sustainable health and care system. Moreover, given the tightening of the labour market, and uncertainty over future migration policy, it is more imperative than ever that employers find ways to retain older workers.”
The report also shows that more women are living longer but that improvements are ‘strongly linked’ to the standards of local services, such as health and disability, education, skills and training and employment.
Lonely and living in poor health
Over 65s living in the inner London borough of Tower Hamlets can expect only 6.5 years in good health after retirement, while those in Richmond, South-West London on average enjoy 14.5 years of good heath after giving up work.
The report goes on to say one in four older people are likely to live alone, while the number renting privately is increasing.
A fifth of 50 to 64-year olds spend much of their time as carers.
Although pension income has stalled, says Franklin, 65 to 69-year olds spend more on package holidays than any other age group.
