An ageing population is drastically altering the economic landscape of the UK, the latest figures from the Office for National Statistics (ONS) have indicated.
According to the ONS, nearly a quarter of the UK population (24%) will be 65 or older by 2042 and the body predicts around five times as many 65 to 69 year olds will be economically active in 2067 (50.55% of the age band) compared with 1992 (10.21%). There has also been a 29 percentage point increase in the number of working women aged 60 to 64, the data also showed. As a result, the ONS has suggested the old age dependency ratio - the traditional measure of the population age structure - is ‘outdated', as more people work up to and beyond the state pension age. "It [the ONS] does tak...
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