Although the UK population is ageing, the old age dependency ratio – the number of people of state pension age (SPA) and over as a percentage of the working age population – has been steady at around 30 per cent since the mid-1970s. However, it is projected to rise from 2006 as people born during the 'baby booms' reach state pension age against a backdrop of low fertility.
In the absence of any increases in state pension age, the old age dependency ratio would have been expected to reach 49 per cent by 2051. With the increases in state pension age taking place between 2010 and 2046 as a result of Government legislation, it is expected to be 34 per cent in 2051.
In 1981, men aged 65 could expect on average to live a further 14.0 years and women aged 65 a further 18.0 years. By 2051, life expectancy for men aged 65 is projected to be 25.1 years; for women aged 65 it is projected to be 27.3 years.
Immigration is currently acting against the ageing of the population. Net migration (immigrants minus emigrants) rose in the 1990s and early 21st century, peaking at 266,000 in 2004-05. The long-term projection of net migration is 190,000 per year from 2014-15 onwards.
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