Figures from the Office for National Statistics (ONS) show the number of over-65s living alone in the UK increased to 4.6 million in the last decade.
According to experts, last year 4.6 million people aged 65 or over were living alone – up from 3.5 million in 2014.
As a result of the increase, this group now accounts for over half (51%) of all single-person households in the UK, compared with 46% in 2015.
‘The number of people living alone in later life has climbed steadily over the past decade, due in part to the impact of the UK’s ageing population,’ Stephen Lowe, group communications director at Just Group, said. ‘While living alone may be a lifestyle choice for some, for many it reflects bereavement or other circumstances outside of their control.’
When looking at the findings closely, they show women make up a larger share of older people living in solitude. Last year two in five women aged 65 and above were living by themselves, as opposed to just 27% of men.
Stephen said that although ‘trends are changing, typically women still have a longer life expectancy.’
With this in mind, women are also known to have lower pension savings meaning that when their partners pass away, they are often burdened by the costs of running a home.
Against this backdrop, Stephen is calling for better financial support for people that may find themselves living alone once they retire.
He added: ‘It may be an uncomfortable topic, but ensuring your loved one is financially protected after your death – or vice versa – is an important part of retirement planning. That includes thinking ahead to ensure a significant income stream doesn’t disappear if one partner dies and considering how future care needs might be met.’
The findings from the ONS can be accessed in full here.
Photo by Jari Hytönen via UnSplash
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