Foreword from Friends Provident

Foreword from Friends Provident

Friends Provident is delighted to present the fourth of our ‘Visions of Britain 2020’ reports. Produced with the Future Foundation, we aim to paint an insightful and realistic picture of British society ten years from now.

In previous reports, we have looked at the workplace of 2020 as well as the future health and well-being of the nation. Now we turn our attention to two of the most talked about issues today: ageing and retirement.

Of all mankind’s achievements in the 20th century, the ability to extend human life is perhaps one of the most remarkable. Over the past 25 years the number of people aged 65 and above in the UK has increased by 1.7 million and since 1981, the number of centenarians in the UK has more than quadrupled. The boom is set to continue.

Although this is a cause for celebration for many individuals, it also poses significant questions for government, as well as companies and industries. How do we provide care for a growing number of older people? How can we support older people to stay independent? How can we respond to a healthier, more energetic community of older workers?

We are, of course, feeling the cost too. In an age of austerity, dealing with the financial challenges of an ageing population is a hotly-debated topic, as we consider how to fund a swelling number of people who are experiencing a longer period of retirement. In our report, we recognise that many challenges lie ahead but at the same time, there is room for optimism as we look forward to 2020.

At Friends Provident, we believe that with careful planning and consideration of the choices available to us, challenges can be made into opportunities. By making informed and considered choices about the future, we can secure the freedom to enjoy our lives.

We hope the fascinating insights within ‘Visions of Britain 2020’ will help guide you in these choices.

Trevor Matthews, CEO, Friends Provident

 

Foreword from the Future Foundation

In the eighteenth century Voltaire wrote; “I advise you to go on living solely to enrage those who are paying your annuities. It is the only pleasure I have left.” Voltaire died at 83 much to the dismay of many, except those who were paying his annuities and funding his retirement. His great quote pricks the modern conscience and seems every bit as valid 200 years on.

The Future Foundation has been commissioned by Friends Provident to examine ageing and retirement in this third part of the Visions of Britain 2020 series. Few issues are grander in scale or more intractable than our ageing population, as the proportion of ‘old’ Britons inexorably rises. But what actually is ‘old’ and how might we define it in the future?

In this work for Friends Provident we examine how age boundaries are blurring and what old age means for us all. We also consider the vexed question of how retirement will be paid for – an issue with the potential to create conflict between the generations in a way we’ve never seen before.

Barry Clark, Future Foundation, October 2010

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