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Newspage Raw

Are millions of Brits at risk of outliving their pension savings?

ended 23. October 2026

According to the latest Office for National Statistics (ONS) report released today (October 23), there were an estimated 645,000 people aged 90 years and over in the UK in 2025; this is an increase of 55.2% since 2005, and an increase of 3.1% since mid-2024.

The proportion of people at the oldest ages has increased in the past two decades; 77.6% of those aged 90 years and over were aged under 95 years in 2025, a decrease from 79.7% in 2005.

There were 16,400 centenarians (people aged 100 years and over) in the UK in 2025, a 20.2% increase from 13,700 in 2015.

The number of men at older ages is increasing faster than the number of women; between 2005 and 2025, the number of men aged 90 years and over has more than doubled, while the number of women has increased by just over one-third.

Men made up over one-third (34.1%) of people aged 90 years and over in 2025, and nearly one-fifth (18.8%) of centenarians.

The highest rate of centenarians in the UK was in Wales (26.1 per 100,000 people); the rate of centenarians has increased in all four UK countries since mid-2024.

Questions for Newspagers

  1. How many of your clients are now planning for a retirement that could run to 100 or beyond, and has that changed how much they’re drawing from pensions each year? Give an anonymised example if you can.
  2. Are you seeing more clients in their 90s, or their families, coming to you because savings or pension income have run out? What usually caused the shortfall?
  3. Are more of your clients now in their 60s or 70s and supporting a parent in their 90s or 100s, and what is that doing to their own retirement plans?

5 responses from the Newspage community

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Rob MansfieldVerified
Independent Financial Advisor at Rootes Wealth Management
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A common comment I get from a clients is that they won't live that long. But what if they do? I like to plan a retirement that lasts into the 100s because who knows what either ageing or markets will do. You may need care or markets may perform poorly and so having a margin of safety is important. Annuities are also important considerations as they pass those risks onto the insurer and ensures a secure income for life.
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Graham NicollVerified
Financial Planner, Chartered FCSI at NCL Wealth Partners
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The tragedy of retirement isn't always running out of money. It's dying with a fortune you were too frightened to enjoy.

We model every client's finances to age 100 and beyond, stress-testing spending, investment returns, inflation and care costs.

We've seen clients well into retirement still accumulating wealth, living frugally and watching their pots grow, despite having more than enough to enjoy life more fully.

Good financial planning often reveals they can spend more, travel, enjoy experiences and help their family while they're alive to see the benefits.

Fear of future care costs can leave people unnecessarily cautious. The answer isn't reckless spending, but a regularly reviewed financial plan that gives people the confidence to enjoy the fruits of their labour without jeopardising their future.
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Rikesh Bhatt (Rik)Verified
Founder and Financial Planner at 8 Financial Planning (FRN: 958869)
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Planning to 100 isn't pessimism any more. It's just good planning. Today's ONS figures back up what I see in client conversations: the bigger risk for most retirees isn't dying too soon, it's living longer than their plan assumed.

For wealthier families the problem is often the opposite of running out. Many people draw too little in their 60s and 70s out of fear, then reach their 90s facing care costs with no real plan for the house. Others spend everything else first and leave the pension untouched. From April 2027 unused pensions come into inheritance tax, so that old rule needs a fresh look.

The practical answer is a cashflow plan that runs to 100, stress tests a long spell of care, and decides now what the home is for. Living in it, funding care or passing it on. Families with a parent in their 90s should have that conversation together, not in a crisis.

Rikesh Bhatt, Chartered Financial Planner, 8 Financial Planning, based in Shropshire
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Philip DragoumisVerified
Director and Owner at Thera Wealth Management
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As a rule, we always model the financial futures for all our clients to age 100 and use conservative investment return assumptions (1.5% above inflation ). We model the effect of a significant market drop early on in drawdown to see what the overall impact would be. As a result, we have left a healthy "room for error" in our financial plans and we find that this is crucial for client's peace of mind especially when markets are turbulent. Care costs are important and we model those much later on in life - we do note though that in many cases clients would be willing to use their home to finance these if need be.
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Malcolm DavidsonVerified
Director at UK Moneyman
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Living to 100 is happening more and more, but unfortunately retirement planning still too often assumes a 20 or 30-year timetable. With 645,000 over-90s and Legal and General recently estimating nine million 25 to 54 year olds are not on track for adequate retirement, the warning bells are ringing out on this -  pensions will need to last longer, care costs will rise and housing wealth must be considered far earlier not only in crisis.
This also affects the generation below who may be supporting parents in their nineties while trying to fund their own retirement. Advisers should stress-test plans for longer lives, later-life care and the possibility that property will ultimately become the "4th pillar" of financing, alongside state pension, private pension and savings.