Centre for Ageing Better have just published a new report titled ‘Boom and bust: The last baby boomers and their prospects for later life’. The report is based on research conducted by IPPR and University College London and is featured on their website.

The report finds several factors around financial security, work and inequalities all having a detrimental effect on the health and quality of life for those in their 50s and 60s. It finds people in their 50s and 60s today – the tail end of the post war baby boom – are at risk of becoming a ‘forgotten generation,’ facing greater challenges than those who were the same age in 2002.

Some of the hard-hitting highlights are;

  • One in five people in this age group – some 2.6 million people – say they will be unable to meet their future financial needs in later life.
  • Poverty is already on the rise amongst this group, with those in their 50s and 60s seeing a greater rise in poverty than younger age groups since 2010.
  • Quality of work has also decreased, with more people in this group saying their work is excessively demanding and they lack control.
  • Shocking levels of inequality faced by people from Black, Asian, and Minority Ethnic (BAME) backgrounds in this age group. We found a staggering 40% of people in their 50s and 60s from BAME backgrounds report low levels of satisfaction with their lives, compared to 26% of those from White backgrounds.
  • 1 in 5 people in this age group likely to face multiple, long-term problems such as poor health, poor finances, and loneliness in old age.
  • Experts at Ageing Better warn that policy makers have failed to consider the impact of big societal changes such as longer working lives on this group and calls for government to show greater leadership on ageing.

Even so, little policy focus has been dedicated to alleviating these challenges. Without action, many will suffer poverty, ill-health, and loneliness in old age – with a real risk that the experience of later life will worsen further for future generations.

Ageing Better is calling for a cross-departmental strategy on ageing and demographic change, greater investment in preventive public health measures, national data sets that consistently allow for the experience of older BAME groups to be understood and for an employment Bill to introduce changes to support older people’s participation in the labour market to be brought forward as soon as possible.

For more information, please visit their website: https://ageing-better.org.uk/.

Centre for Ageing Better – Ageing report and findings