The number of people set to reach age 100 is expected to jump by up to 7% by 2049, new figures show.
The latest expectations of life expectancy published by the ONS show that over a quarter (26.3%) of girls and nearly a fifth (18.3%) of boys born in 2049 in the UK are expected to live to at least 100, an increase from 19.1% of girls and 12% of boys born in 2024.
Overall life expectancy at birth in the UK is projected to reach 92.4 years for girls and 89.6 years for boys born in 2049, an increase of 2.2 years and 2.6 years, respectively from 2024.
It comes amid concerns around how the UK will financially sustain an increasingly ageing population, with more people living into old age and less people giving birth.
David Brooks, head of policy at consultancy Broadstone, said: “As life expectancy continues to rise, the UK faces a significant demographic challenge that will place increasing pressure on public finances and wider policymaking.
“People will spend longer in retirement, often needing to draw an income for decades, requiring both larger later-life savings and inevitably increasing the cost for the state of providing retirement benefits.
“An ageing population combined with lower birth rates means there are proportionally fewer working-age people supporting those in retirement, which risks placing a greater tax burden on younger generations while stretching healthcare, social care and pension systems further.
“This creates difficult questions for policymakers, employers and the pension industry around how retirement can be funded sustainably in the long term.”
