Britons urged to plan for care as population surges
The population of England and Wales has surged by record levels over the last ten years with longer life expectancies making an impact.
With increased birth rates and immigration also adding to the problem it is only going to get more pronounced as younger generations get older.
To ensure a more comfortable retirement amid these issues, it is never too early for workers to start financial planning for their future.
The Office for National Statistics revealed that the number of people living in England and Wales grew from 52.4 million in 2001 to 56.1 million in 2011 - the biggest growth since records began in 1801.
The figures were among the first data released from the census last year, with 1.6 million of the rise linked to increased life expectancy and fertility rates and 2.1 million associated with net migration.
Dr Ros Altmann, director-general of Saga, explained that preparation is key to managing the population and the country has some catching up to do.
She said: "The real shame is that politicians failed to prepare people for this properly. Working longer, saving more and keeping active are vital ingredients of managing the ageing population.
"We need to help older people look after themselves, help younger people appreciate the value of elders and move away from old fashioned stereotypes of old people being not fit to do anything!"
Dr Altmann described how encouraging older people to continue using the skills they have acquired throughout their lives will stop them being a wasted resource and possibly boost the economy.
"This would be a win-win for the economy and society - it will help older people have higher incomes and create more jobs for the young. If we carry on as we are, then people will stop working, have low pension incomes and reduced spending power, which will stifle growth," she added.
With research from Saga demonstrating that 71% of over-50s want to work past 65, she said it is clear that many older people are keen to carry on working either part time or full time to help fund their care needs.