This dataset provides values for RETIREMENT AGE MEN reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This statistic illustrates the expected age of retirement for adults over the age of 50 in the United Kingdom (UK) as of first quarter 2016. It can be seen that a share of 15 percent of respondents stated that they expect to retire at the age of 70 or above.

Israel, Iceland, and Norway had the highest current retirement ages worldwide of the 45 countries included at 67 years. Meanwhile, Indonesia had the highest effective retirement age at 69.

This dataset provides values for RETIREMENT AGE WOMEN reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The value of any pension pots already accrued that are not state basic retirement or state earning related. This includes occupational pensions, personal pensions, retained rights in previous pensions and pensions in payment.

Abstract copyright UK Data Service and data collection copyright owner.

Pensioners' Incomes (PI) contains estimates of the levels, sources and distribution of pensioners' incomes. It also examines the position of single pensioners and pensioner couples, including any dependent children, within the income distribution of the population as a whole. This differs from Households Below Average Income (HBAI) (see SNs 5828 and 7196), where analysis is on a household basis, and includes the income of adults not in the pensioner unit but living in the same household. The PI undertakes a few extra steps beyond the FRS and HBAI data to derive pension income variables.

The PI series is a key source of information used to inform Government thinking on relevant policies and related programmes and projects. Researchers and analysts outside the government use statistics and data to examine topics such as ageing, the distributional impacts of fiscal policies, and pensioner groups' income profiles. The PI estimates are usually based on a sample of around 7,000 adults over State Pension age, who reside in private households in the United Kingdom, taken from the Family Resources Survey (FRS).

The gov.uk Pensioners' Incomes Statistics webpage contains annual reports, accompanying tables, research, and technical papers.

PI data are also available from 1994/95 onwards via the Department for Work and Pensions (DWP) Stat-Xplore online tool.

Secure Access PI data

The Secure Access version of the PI series (SN 9257) is available from 2007/08 onwards, whereas the standard End User Licence (EUL) data (SN 8503) are available from 2008/09. Unlike the EUL versions, the ages of the head of household and spouse have not been top-coded at 80 years in the Secure Access version. Prospective users of the Secure Access version must fulfil additional requirements beyond those associated with the EUL datasets. The Secure Access version of FRS is held under SN 9256, and the Secure Access version of HBAI is available under SN 7196.

Main Topics:
Variables cover household and demographic information, with incomes from a range of sources (pensions, benefits, savings and investments, and any earnings from work).
Derived pension income variables

There were over 4.7 million people aged between 30 and 34 in the United Kingdom in 2023, making it the most populous age group in that year. Those aged between 35 and 39 years comprised the next most numerous age group in 2023, at over 4.64 million people. Millennials overtake Boomers as biggest generation Post-war demographic trends, particularly the 'baby boom' phenomenon, have significantly influenced the current age distribution in the UK. The postwar peak of live births in 1947 resulted in the dominance of the Baby Boomer generation for several decades, until 2020 when Millennials became the largest generational cohort, surpassing the Boomers for the first time. The following year, the UK Boomer population was then overtaken by Generation X, the generation born between Boomers and Millennials. Generation Z, however, remains smaller than the three generations that preceded it, at 12.9 million individuals in 2022. Aging UK population poses challenges The median age of the UK population is projected to reach 44.5 years by 2050, compared to 34.9 years in 1950. This aging trend is indicative of broader global demographic shifts, with the median age of people worldwide forecasted to increase from 23.6 years in 1950 to 41.9 years by 2100. How countries like the UK manage their aging populations will be one of the key challenges of the next few decades. It is likely the UK's struggling National Health Service (NHS) will come under even more pressure in the coming years. There are also tough economic questions, in particular as more people enter retirement age and the UK's working population gets smaller in relation to it.

In 2017, around 6.5 million adults in the United Kingdom had no cash savings. Once you are an adult, having savings is a key element of preparing yourself for life’s little and big surprises. Building cash savings can be a difficult task as it takes careful planning, and time to accumulate. Those aged between 18 and 24 years of age in the United Kingdom have the lowest mean amount in cash savings of any age group. As of 2017, one in eight UK adults had no cash savings, with a further 32 percent of the population having between zero and two thousand British pounds.

With age comes wisdom

The correlation between age and the mean amount of cash savings can be somewhat linked to individuals’ priorities. Younger people will be looking to put money towards large items such as a car, home or travel whereas those aged over 65 have not only had time to build their savings, but also are more likely to have no unsecured debt, and to own a property outright.

Rainy day fund

As we get older, the importance of having some form of savings for an emergency, or unforeseen circumstances becomes clearer. Planning for the long-term becomes of higher importance as we age. Despite this, as of 2018, just over half of the adult population had adequate savings for retirement.

Indicators included have been derived from the published 2019 mid-year population estimates for the UK, England, Wales, Scotland and Northern Ireland. These are the number of persons and percentage of the population aged 65 years and over, 85 years and over, 0 to 15 years, 16 to 64 years, 16 years to State Pension age, State Pension age and over, median age and the Old Age Dependency Ratio (the number of people of State Pension age per 1000 of those aged 16 years to below State Pension age).

This dataset has been produced by the Ageing Analysis Team for inclusion in a subnational ageing tool, which was published in July 2020. The tool enables users to compare latest and projected measures of ageing for up to four different areas through selection on a map or from a drop-down menu.

Average weekly household expenditure on goods and services in the UK. Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition.

The average growth rate for the 22 largest pension markets worldwide was estimated to be 10.4 percent between 2022 and 2023, and the ten-year compound annual growth rate until 2023 was estimated to be 3.8 percent. Retirement savings in pension funds grew during the last decade and the amount of worldwide pension assets reached new heights in 2021, which can be partially explained by a higher share of working-age population investing in pension plans. Which is the largest pension market? The largest pension market worldwide is the United States, where the total pension fund assets was almost 10 times larger than in the United Kingdom, which is the second largest pension market worldwide. Despite some fluctuations during the last decade, the U.S. pension assets grew overall, and as with the worldwide pension assets, reached the highest value in 2020. Pension assets to GDP Despite its relatively small population size, the Netherlands was the fourth largest pension market worldwide, after the United States, United Kingdom, and Canada. The pension market in Netherlands was also the largest market worldwide when compared to the size of its own economy, followed by Canada, Australia, and Spain.

Between April 2020 and March 2021, there were 275,000 lorry drivers employed in the UK. At some 122,000 employees, the plurality of heavy goods vehicle drivers in the United Kingdom (UK) was aged between 50 and 64. Employees wanted
Some 45 percent of heavy goods vehicle drivers in the UK will reach retirement age in the next five to 10 years, meaning that the current dearth of drivers could be far from over. In addition to the age structure, several 10,000 drivers from European countries outside the UK left Britain in the wake of the Brexit referendum. Consequently, there is a strong demand for younger drivers.

Driver shortage leaves shelves empty and pumps dry
Fuel pumps in Britain remained dry in the summer of 2021 due to a shortage of lorry drivers. Motorists were queuing up in front of petrol stations. As a result, the price of fuel spiked in the summer of 2021.

Abstract copyright UK Data Service and data collection copyright owner.

The aim of these studies is to examine the positions of the low paid, the subemployed (men and women unemployed for over 4 weeks in the last 12 months), the disabled and immigrants in two local labour markets. There were two main sources of data:
1) All members not in full-time education and under 71 of a simple random sample of households in 2 urban areas (230).
2) Follow-up survey of all individuals in 1, who fell into any one of four special categories (231).
i) low paid (less than 55p for males over 18, less than 35p for females over 18)
ii) subemployed (unemployed for more than 4 weeks in last 12 months)
iii) disabled
iv) immigrants (not born in UK or Eire)

Main Topics:

Attitudinal/Behavioural Questions
This dataset contains data from source 1.
a) Terms and Conditions of Employment
Holidays, sick pay, pension, notice, contract, journey to work (time, weekly cost), normal starting time, outdoors or indoors (shelter, tea/coffee, toilet, washing facilities, place to eat, place for storage, first aid, phone call, heating), place for coats etc., adjustable lighting, details of fringe benefits received.
Amount of heaving, lifting, sitting down, whether work dangerous, noisy or tiring. Security, promotion prospects, trade union (membership), reasons if no trade union, opinion on whether union would be advisable (reasons), reasons for non-membership. Number of employees, immediate work group, autonomy, number in same job (as a proportion of the labour force), origin of workmates, earnings relative to others, low paid men/women. Influence on pay (union/employer or other), assessment of employer (reasons). Net/gross wages last time paid, hours worked/overtime during last pay week, period of payment, number of weeks worked in past year, average hourly earnings, variations in pay during last month (specific details). Promotion/demotion (reasons and description of job change).
Labour force status, internal movement, number of employers/ occupations/industries/jobs/skill level changes in last 5 and last 10 years. Number of job changes, number of periods of unemployment, length of time unemployed, size of works closure, redundancy pay received, job offers, help finding a job (type). Average gross/net earnings, average hours worked/period of payment. Additions to pay, tax rebate, tax paid direct, work expenses, number of weeks paid holiday, income fluctuations (reasons), deductions, time off work (reasons), sick pay, number of weeks sickness, strike pay, number of weeks on strike, pay for other reasons, number of weeks absent for other reasons. Length of time out of work/on short time/part time (reasons).
b) Previous occupation
Reason for leaving; type; location; hours per week; gross/net earnings; payment period; date left work.
c) First job
Social class; source of information; starting date; method of application; reasons for acceptance.
d) Second job
Social class; gross/net income.
e) Housewives
Attitude to work; reasons for not working; whether job taken if help given with family; suitable conditions-hours, location, pay, type of job.
Method of job search, interviews, refusals, whether job held in last 5 years. Previous job; type, employment status, location, hours per week, gross/net earnings, payment period, reason for leaving, date of leaving.
f) Retired
As for housewives, plus reason for retirement; when started drawing pension.
Background Variables
Age, sex, marital status, place of birth, ethnic origin, educational status, school-leaving age, number of years of schooling, qualifications, further education, job-specific training. Driving licence, general health condition, specific troubles/illnesses, health effect on work, employment status. Number of households at address, number in household with: four or more weeks unemployed in last 12 months; low pay; disability; number of immigrants. Number in household, number aged 71 and over, number aged 15 and under, number aged 15 and over in education, number currently with paid job. Household type, number of rooms, amenities, structural defects, tenure, business purposes, net household income, rent rebate, number of weeks rent paid, rates, rate rebate (owner occupiers only), whether house paid for, presence of lodgers/boarders and sub-tenants, persons per room, cost of repairs over previous year, housing cost weekly. Family allowances received, retirement pension, widows pension.
Benefits received - sickness, unemployment, supplementary, industrial injury, industrial disability, war disability, maternity, death. Income received from property, assets and savings (value), number of weeks worked in past year, average hourly earnings, length of residence in study area/in North East/in GLC, local papers read.
Relatives in area (father, mother, siblings, children,...

China’s aircraft fleet is expected to reach an average age of 6.6 years in 2020, whereas the North American fleet an average age of 14 years. By 2030 this gap is expected to narrow though, with the average fleet ages predicted to be between 8.4 years and 14.1 years respectively.

Reasons for updating

The main reason for replacing aircraft is not because planes become less safe as they age, but because newer planes are cheaper to operate. For example, newer aircraft are generally more fuel efficient – an important factor given the volatility in the price of aircraft fuel and its current trend upwards. On average, aircraft are retired after around 25 years.

Fleet age trends

The general pattern is that more established markets and carriers have older fleets. For example, in the North American market, the traditional full-cost carriers have average fleet ages well above 10 years, whereas the average fleet age of the newer low-cost carriers are mostly below 10 years. However, established markets with a higher number of older aircraft provide more opportunity for aircraft to be replaced sooner. This explains the above forecast that the average fleet age in established markets will reduce by 2030, whereas markets with newer fleets will increase in average age.

In 2022, residential care in the United Kingdom was most expensive in the South East, Scotland, and London with weekly fees of over 800 British pounds. Care homes vary in the type of services they offer to elderly people. Residential care homes, for instance, are suitable for adults who are mostly independent but could use some assistance in day to day living such as dressing, washing, doing laundry or taking medicine. Nursing homes, on the other hand, offer 24-hour medical supervision. An ageing population increases the importance of retirement living properties and services that suit the needs of residents.