Britons Age 60 and Over Set to Surpass 30% of the Population

(Bloomberg) -- Britain is ageing, with almost a third of the population on course to be age 60 and over by the middle of the century, according to official projections.

The figures from the Office for National Statistics highlight the policy challenges facing the government as state-funded health and social care budgets struggle to keep pace with improvements in life expectancy. The number of over-75s is set to almost double to more than 10 million people.

A rapidly graying population also raises questions about financial provision in old age, though the ONS noted that increases to the age at which people receive state retirement benefits mean that the proportion of people of pensionable age will remain steady over the next decade at fewer than one in five.

The U.K. population as a whole is projected to rise by 3 million by mid-2028 and hit 70 million by the early 2030s, with England seeing the fastest increase.

Net migration is expected to slow to less than 200,000 a year but still provide the driving force behind population growth, the data published Monday show. Natural change is also projected to slow as the number of deaths increases, the result of the baby boom generation born after World War II reaching older ages.

To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint

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