Over 65s will make up half of single person households by 2022
The Equity Release Council reports that the “number of over-65s living alone has increased by 15% in the last decade. Over 4 million over-65s will soon be living in single-person households, outnumbering those aged under-65 for the first time. Increasing number of people living alone in later life influenced by rising life expectancies and divorce rates. More than two in five new equity release plans are taken out on a single basis to support retirement finances.”
“The number of over-65s living alone in the UK has already risen by 15% in the last decade from 3.4 million in 2008 to 3.9 million in 2018. As a result, the percentage of single-person UK households that are aged 65+ has increased from 45% to 48% over the same period.” Read More
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