Startling statistics highlight the need for lifetime planning

Startling statistics highlight the need for lifetime planning

Later life planning is becoming an increasingly important area of advice as the UK population continues to age.

A recent survey entitled Later Life in the United Kingdom, conducted by Age Concern, highlights the need for lifetime planning. Some of the startling facts are that:

  • 60+ By 2030 the number of people aged 60 or over is expected to pass 20 million
  • 65+ In the next 17 years the number of people aged over 65 is projected to rise by nearly 50%
  • 75+ The population over 75 is projected to double in the next 30 years
  • 85+ The number of people over 85 is predicted to more than double in the next 20 years, and
  • 100+ The number of centenarians in the UK has grown by 73% over the last decade.


Later life planning and opportunities

Age Concern’s report also highlights the fact that life expectancies are rising and people are living longer:

  • Nearly one in five people currently in the UK will live to see their 100th birthday; and
  • People currently aged 75 can expect to live an average of 13.0 years if they are female and 11.2 years if male.

These statistics highlight the significant opportunity that exists for financial advisers to consider lifetime planning options for their clients.

Using flexible planning tools which offer tax advantages and control of capital throughout someone’s life can provide reassurance and peace of mind to clients and enable them to make plans for their children and grandchildren at the same time.

Whether it’s a requirement for income, capital or planning for inheritance tax, our range of planning services are designed for private investors and business owners and can be tailored to suit their needs, allowing financial planners to find the right solution for their clients.