Headline evidence · Pensions · Great Britain · 2024–25

About 13 million people now get the State Pension, nearly 29% more than 30 years ago.

About 13 million people now get the State Pension, nearly 29% more than 30 years ago. Counting everyone aged 65 or over gives a bigger rise, and counting people at pension age a smaller one, because the pension age has gone up to 66.

Proposed outcome: Make pensions sufficient and affordable, treating low earners and different generations fairly. What could change →

Geography
Great Britain
Evidence period
1994–95 and 2024–25
Evidence status
Published statistics
Editorial review
Reviewed 11 October 2026

The short version

Three key measures

  • How many people receive the State Pension?

    13.0million

    About 13 million people get the State Pension, up from about 10 million 30 years ago. The rise is nearly 29%, but it depends on how you count, because the pension age has risen.

    Great Britain · 1994–95 and 2024–25 · Published statistics

    Definition, limits and source: How many people receive the State Pension?

    People receiving the State Pension in 2024–25, against 10.1 million in 1994–95: +28.6%. Average over the year, Great Britain, includes about 1.1 million paid abroad. A fixed age of 65 gives +43% and the moving pension age +17%: the count depends on the definition.

    Published statistics · DWP, Benefit expenditure and caseload tables 2026 (Spring Forecast 2026), State Pension sheet, State Pension sheet and Table 1c

    An ageing population →
  • Survey-based evidence
    Family Resources SurveyHousehold income estimates come from the Family Resources Survey; they have sampling uncertainty.

    How many pensioners are in relative poverty?

    13.9%

    Pensioners living on less than 60% of typical household income After housing costsIncome after the housing costs specified by that statistical series have been deducted. Different measures can treat mortgage costs differently; read the stated definition.DWP: definition and context →. Changes in measurement limit long-term comparisons.

    Great Britain (1994–95); United Kingdom (2024–25) · 1994–95 and 2024–25

    Definition, limits and source: How many pensioners are in relative poverty?

    Pensioners in households below 60% of median income after housing costs, 2024–25, against 28.1% in 1994–95. These endpoints span changes in coverage and measurement; no precise like-for-like change is inferred. Coverage: Great Britain until 2001–02, United Kingdom from 2002–03; benefit-record linking from 2021–22 changes measured income and poverty rates; pandemic collection affected 2020–21. A relative measure, so it moves with median income. The full new State Pension is £241.30 a week in 2026–27.

    Survey-based · DWP, Households Below Average Income: FYE 1995 to FYE 2025, Table 1.6a (pensioners, AHC, relative low income)

    Are pensions enough to live on? →

  • What will the State Pension cost in future?

    9% of the economy

    A long-term projection if the triple lock continues, not a certain bill. Linking rises to wages would cost less.

    United Kingdom · 2075–76 (projection)

    Definition, limits and source: What will the State Pension cost in future?

    OBR long-run baseline by 2075–76, from about 5% now. With earnings uprating instead of the triple lock: about 7%. A conditional projection, not a forecast.

    Forecast (modelled) · OBR, Fiscal risks and sustainability (July 2026)

    The future State Pension bill →
What it means day to day

The latest estimate puts 13.9% of pensioners in relative poverty after housing costs. Historical rates span changes in geography and survey methods. Tomorrow’s pensioners will depend more on what they save at work: automatic enrolment took workplace saving among eligible employees from 55% to 90%, but participation alone does not establish an adequate income. The minimum applies to part of pay, the self-employed are not covered, and women approaching retirement have far less private pension wealth than men. How the State Pension is uprated decides much of its future cost.

Budget 2026 · 28 October 2026

What the Budget means for pensions

2

Budget measures on this topic

£5m

Net cost, 2026–27

£165m

Net cost, 2029–30

Biggest single-year effect of each measure · red costs money, teal saves or raises it

  • Pension Tax Allowance2029–30−£150m
  • Pensions Tax2027–28−£15m
The Budget in 2 minutes →Is it being delivered? →

Treasury costings certified by the OBR, not measured results. Topic links are UK Facts’ classification.

The evidence

How many more older people are there?

About 13 million people receive the State Pension, nearly 29% more than 30 years ago. Other ways of counting give different answers, mainly because the age at which the pension starts has risen. We show the headline measure and the others side by side so the reason is clear.

People receiving the State Pension, Great Britain, average over the year, including about 1.1 million paid abroad. 1994-95 to 2024-25: +28.6%.

  • 1994-9510.1m
  • 1996-9710.5m
  • 2024-2513.0m
  • 2025-26 (forecast)13.2m
  • 2030-31 (forecast)13.7m

Change over about 30 years. The first bar is the one in the headline. Pension age rose from 65 (men) and 60 (women) to 66, so fewer people count as pension age than a fixed age of 65 would give. Sources and geography differ by bar; see the workings.

  • People receiving the State Pension, 1994-95 to 2024-25+28.6%10.1 million to 13.0 million
  • People aged 65 and over, 1996 to 2024+43.1%9.2 million to 13.2 million
  • People at or above State Pension age, 1996 to 2024+16.7%10.6 million to 12.4 million
  • People aged 85 and over, 1996 to 2024+70.6%1.03 million to 1.75 million

What the State Pension costs, and will cost

The State Pension cost £136.6bn in 2024–25, 47.2% of all Department for Work and Pensions benefit spending, up from 34.7% in 1996–97. After inflation that is more than double: £64.4bn to £143.8bn in 2026-27 prices. The Office for Budget Responsibility projects it rising from about 5% of GDP now to 8.6% by 2075–76 if the triple lock continues. About three-quarters of the rise comes from an older population; about a third comes from the triple lock (the two overlap). Paying for ageing as a whole, which also means health and social care, takes 26.3% of GDP now and 34.5% by 2075–76. This is a projection from stated assumptions, not a forecast, and it was published before the government’s 29 September 2026 announcement that the triple lock would be kept to April 2030 and then adjusted.

State Pension spending, % of GDP0%5%10%2030205020708.6%

Baseline assumes the triple lock continues. Population ageing explains about three-quarters of the rise to 2075-76; the triple lock about a third (the shares overlap). The baseline pre-dates the 29 Sep 2026 announcement that the triple lock is kept to April 2030 then adjusted. OBR, Fiscal risks and sustainability, July 2026. Unlike a policy option, none of this is costed here as a change.

Pensions against other social spending

Pensions are the biggest single part of what government spends on social protection: £146bn of £386bn in 2024–25, more than sickness and disability benefits or Universal Credit.

UK public spending on social protection was £386.3bn in 2024-25. Pensions were 37.9% of it. Selected lines; the rest is smaller.

  • Old age: pensions£146.4bn
  • Sickness and disability£84.0bn
  • Social exclusion, largely Universal Credit£76.6bn
  • Family and children£34.8bn
  • Old age: personal social services£16.5bn
  • Housing£17.0bn

Pension age against how long we live

Pension age is now 66 for both sexes, moving to 67 from May 2026. At 65, men can expect 10 more years in good health and women 11 (2022-24; self-rated health, so survey-based). Men gained about three years after pension age; women lost about two because their pension age rose six years.

  • Men: expected years after pension age, 1995-9714.8 yrsat 65
  • Men: expected years after pension age, 2022-2417.9 yrsat 66
  • Women: expected years after pension age, 1995-9722.3 yrsat 60
  • Women: expected years after pension age, 2022-2420.3 yrsat 66

How Britain’s older people compare with the G7

Typical income of people over 65 is lower in the UK than in all G7 countries except Japan. This is a survey-based measure of total income, so it reflects savings and other income as well as the State Pension.

Typical monthly income of people over 65 after tax, in US dollars adjusted for prices in each country (2023; Japan 2021). Survey-based income of people over 65. Not the State Pension alone, and not a model of a full-career worker.

  • United States$3,770
  • Canada$3,450
  • France$3,098
  • Germany$3,092
  • Italy$2,926
  • United Kingdom$2,509
  • Japan$1,5912021

OECD Income Distribution Database, median equivalised disposable income, people over 65, PPP US dollars a month, 2023 (Japan 2021). Poverty measures from the OECD and DWP differ and are not compared here.

Living-cost concern provides context for retirement income; it is not a survey of pension adequacy or support for a pension reform.

Annual data: Pensioner poverty across published methods

Published history through 2024–25 is shown in the 1996–2026 window. Pandemic collection affected 2020–21; benefit-record linking begins in 2021–22. Do not calculate a change across these breaks. No 2026 observation is available. A dash means no comparable observation is supplied; it is not zero. Private households; Great Britain until 2001–02, UK thereafter. Year denotes the financial-year end.

1996–2026; % of pensioners, relative low income after housing costs. No change is calculated across definition or assessment breaks.

Pensioner poverty across published methods; % of pensioners, relative low income after housing costs
YearPensioner poverty
199627.9
199729.1
199829.2
199928.6
200027.7
200126
200225.7
200323.9
200420.4
200517.3
200616.4
200718.8
200817.7
200915.7
201015.2
201114
201213.4
201313.3
201413.7
201513.8
201615.7
201715.9
201816.5
201915.9
202018.1
202114.7
202215
202312.7
202412.3
202513.9
2026No comparable observations supplied

How fast is the population ageing?

An ageing population changes the balance between workers and pensioners

United Kingdom · 2024, 2049
Per 1,000 working age010020030020242049 (projected)329

There are expected to be more pensioners relative to working-age people, even with planned increases in pension age. These are projections, not a count of future taxpayers.

United Kingdom · 2024, 2049 · Official projection

Show the workings — An ageing population changes the balance between workers and pensioners

People above State Pension age per 1,000 people of working age, UK, 2024 and 2049 (projected; dashed). Pension age and working age follow legislated State Pension age changes.

The number of people above State Pension age is projected to rise 23.7%, from 12.4 million to 15.3 million by 2049. But the working-age population also grows, from 44.3 to 46.5 million, so the ratio rises from 280 to 329 per 1,000, about 17.5%. Planned rises in State Pension age are part of why.

Geography:
United Kingdom — Usual residents
Measure:
People above State Pension age per 1,000 working age
Period:
2024, 2049
Status:
Official projection
Calculation:
As published (old-age dependency ratio, principal projection).
Compare with:
People above State Pension age: 12.4m to 15.3m (+23.7%)
Not included / breaks:
This is a population ratio, not workers per pensioner: many working-age people are not employed and some pensioners work. Projections depend on fertility, mortality and migration assumptions.

Source: ONS, National population projections: 2024-based.

View the data as a table
YearPer 1,000 working ageAbove State Pension ageWorking age
202428012.4m44.3m
2049 (projected)32915.3m46.5m

Scroll the table sideways to see every column.

How much of the future rise is a policy choice?

The annual pension-rise guarantee explains around a third of the forecast rise in State Pension spending

United Kingdom · Before 2008 to 2075–76
Per cent of GDP0.0%5.0%Pre-20082024–252075 earnings2075 triple lock9.0%

An ageing population is expected to increase pension spending. Continuing the triple lock adds to that cost compared with increasing pensions in line with wages. Neither path is certain.

United Kingdom · Before 2008 to 2075–76 · Official projection (conditional)

Show the workings — The annual pension-rise guarantee explains around a third of the forecast rise in State Pension spending

State Pension spending as a share of GDP: past levels and the OBR’s 2075–76 long-run projections under two uprating rules (dashed).

State Pension spending was about 3.5% of GDP for two decades before 2008 and is about 5% now. The OBR projects around 9% by 2075–76 if the triple lock continues, and around 7% if pensions rise with earnings instead. The OBR estimates that the triple lock — a choice — accounts for around a third of the projected rise; most of the rest comes from an ageing population, which is not a choice. The gap between the two rounded scenario figures is not the OBR’s own attribution.

Geography:
United Kingdom
Measure:
Per cent of GDP
Period:
Before 2008 to 2075–76
Status:
Official projection (conditional)
Calculation:
Milestones as stated by the OBR; no smooth line is drawn because no annual series is published in one place.
Compare with:
Earnings uprating scenario
Not included / breaks:
Long-run projections hold policy constant and are highly uncertain. The OBR’s separate 2025 decomposition (7.7% by 2073–74) is a different report and is not combined here.

Source: OBR, Fiscal risks and sustainability (July 2026).

View the data as a table
PointPer cent of GDP
Two decades before 2008 (outturn)3.5%
2024–25 (outturn)5%
2075–76, earnings uprating (OBR projection)7%
2075–76, triple lock (OBR baseline projection)9%

Connecting pension records is only the first step

Schemes in scope must connect by 31 October 2026. The programme expects MoneyHelper’s public dashboard in 2027/28; these are different milestones. Connection does not demonstrate that savers have found their pensions or made better retirement decisions.

Audit findings and delivery status

The NAO’s May 2024 investigation linked delays to capability and governance problems. It did not assess overall value for money. The current timetable separates the infrastructure deadline from public access.

NAO investigation · Current programme timetable

Why it is happening

Our analysis

Longer lives mean pensions must stretch further. Higher contributions, later retirement and higher taxes put the cost on different people. Changes can take decades to affect retirement incomes.

Read the options, evidence and limits below.

Who is affected most

Who has enough?

Will people have enough?

A pension system can cost more and still leave some people short

Great Britain, then United Kingdom (poverty); Great Britain (participation) · Poverty 1994–95–2024–25; participation 2012–2025

Pensioner poverty after housing costs (GB, then UK)

1996–2026 · recorded figures.

Per cent of pensioners0%10%20%30%40%20002010202013.9%

Eligible employees saving in a workplace pension (GB)

1996–2026 · recorded figures. Shading marks years without figures: this series starts in 2012.

Per cent of eligible employeesSeries starts 20120%50%100%20002010202090%

More spending does not mean every pensioner has enough. More workers now save into pensions, but joining a scheme does not guarantee an adequate retirement income.

Great Britain, then United Kingdom (poverty); Great Britain (participation) · Poverty 1994–95–2024–25; participation 2012–2025 · Official statistics

Show the workings — A pension system can cost more and still leave some people short

Left: pensioner relative poverty after housing costs, Great Britain to 2001–02 and UK thereafter; lines stop at geography, pandemic and benefit-linking breaks. Right: eligible employees participating in a workplace pension, Great Britain.

The latest poverty estimate is 13.9% in 2024–25. Earlier observations use different coverage or methods, so the chart separates those segments. Automatic enrolment took participation from 55% to 90% of eligible employees. But today’s pensioners and tomorrow’s savers are different people: participation says nothing about whether 8% of band earnings will be enough, and the self-employed are not covered.

Geography:
Great Britain, then United Kingdom (poverty); Great Britain (participation)
Measure:
Per cent
Period:
Poverty 1994–95–2024–25; participation 2012–2025
Status:
Official statistics
Calculation:
As published. Different populations and years; not combined.
Compare with:
Their own earlier values
Not included / breaks:
A genuine policy success by this measure — but participation is not the same as adequacy: it says someone is saving something, not that their contribution rate or pot size will be enough to live on, and the rate varies sharply by employer size (as low as 55% at the smallest employers, over 90% at mid-sized ones). See the master-trust default-fund detail on the funded-pensions page for what these contributions are invested in.

Source: DWP HBAI; DWP Workplace pension participation and savings trends.

View the data as a table
YearParticipation
201255%
201359%
201471%
201575%
201677%
201784%
201887%
201988%
202088%
202188%
202288%
202388%
202489%
202590%

What could change

Proposals to consider. The bodies named below would need to agree to deliver them; responsibility is not a recorded commitment. Follow the links for costs and evidence.

  • Pension money into UK assets

    Examine how pension funds could invest more in the UK.

    Who could deliver it: Treasury, pension trustees, regulators and investment managers.

    Main trade-off and delivery needs

    Portfolio concentration and poorer returns; existing pledge fails additionality.

    Define a change beyond existing commitments; test investable demand, fiduciary safeguards, liquidity and net additional capital.

    Cost: The extra cost is not yet known.

    Costs, drawbacks and evidence →

  • Phase pension-saving reform with low-income protection

    Assess changes to pension saving while protecting people on low incomes and checking how many might stop saving.

    Who could deliver it: the Department for Work and Pensions, Treasury, employers and pension providers..

    Main trade-off and delivery needs

    Lower current income, employer incidence and uncertainty in future returns.

    Update cohort modelling and consult on who pays before committing. No use of pension assets as free government money.

    Cost: Only part of the cost has been estimated.

    Costs, drawbacks and evidence →

  • Claim what people are owed

    Help people likely to qualify for Pension Credit apply for it.

    Who could deliver it: the Department for Work and Pensions, councils and advice providers.

    Main trade-off and delivery needs

    Privacy, mistaken advice and processing delays; fiscal cost is not equivalent to social loss.

    Specify eligible cohort, trusted outreach, application support and comparison group; arrange benefits-processing capacity.

    Cost: Only part of the cost has been estimated.

    Costs, drawbacks and evidence →

See all options and what is still unknown →

Some problems have no assessed solution yet: see coverage and gaps.

Help and rights

These links can help with an individual situation. They do not resolve the wider pressures described above.

Domain SWOT

Recorded

Show the findings
Strengths · 2 findings

  • Relative pensioner poverty after housing costs fell from 28.1% to 13.9%. Figures from 2021–22 add benefit records to the survey and are not directly comparable with earlier years.

    Great Britain, then UK · 1994–95 to 2024–25

  • 90% of eligible employees now save in a workplace pension, against 55% in 2012.

    Great Britain · 2012 to 2025

Weaknesses · 4 findings

  • The NAO identified digital-capability and governance weaknesses behind dashboard delays. The 31 October 2026 scheme connection deadline is not public launch: MoneyHelper public availability is expected in 2027/28. Benefits depend on usable, accurate information reaching savers, not connection alone.

    United Kingdom · 2024 audit; October 2026 programme status · risk

  • Saving a pension pot does not ensure a sustainable retirement income. Guided Retirement addresses difficult withdrawal choices; delivery still requires regulations, scheme governance and clear consent. Its eventual effects have not yet been established.

    Great Britain · July 2026 policy framework · risk

  • Only 62% of people entitled to Pension Credit claimed it in 2024–25; up to 900,000 families missed out on up to £2.4bn.

    Great Britain · 2024–25

  • High participation is not the same as adequate saving: the IFS proposes an employer contribution for almost everyone and higher defaults above £9,000 because current minimums leave many under-saving.

    our synthesis

Opportunities · 1 finding

  • A phased saving reform that protects low earners’ take-home pay, alongside help to claim Pension Credit, could improve future and current retirement incomes together.

    Depends on: Employer, employee and Exchequer costs are agreed openly, and the state-pension target is set at the same time.

    our synthesis

Threats · 3 findings

  • Pension consolidation and domestic investment must protect savers’ risk-adjusted returns. The 2025 Investment Review sets out policy aims; it does not establish that any particular UK allocation will outperform a diversified alternative.

    UK workplace pensions; LGPS in England and Wales · risk

  • On current policy the OBR projects State Pension spending rising from about 5% of GDP to about 9% by 2075–76 — about 7% with earnings uprating instead of the triple lock.

    risk

  • Contribution rises timed badly can squeeze take-home pay and push up opt-outs among those least able to save.

    risk

See the whole-UK SWOT →

Domain action plan

Proposed

Possible steps for government and the bodies responsible. These describe the order of work, not promised dates: starting an action and seeing results take different amounts of time.

  1. Short term · prepare

    Compare pension adequacy and the cost of existing commitments.

  2. Medium term · deliver

    Assess proposed changes alongside effects on different generations.

  3. Long term · judge results

    Track retirement incomes and whether the system remains affordable.

Delivery steps and owners (4)
  1. Prerequisite: Set a state-pension target and test outreach for Pension Credit · DWP and HM Treasury; councils · proposed
  2. Decision: Consult on precise contribution parameters and legislate · DWP; Parliament · proposed
  3. Delivery: Phase in with payroll readiness and affordability checks · Employers; The Pensions Regulator · proposed
  4. Result: Higher contributions without a rise in opt-outs; Pension Credit take-up rising · DWP statistics · proposed

Sources, method and changes

Shareable visual summary

Visual summary

More pensioners — and a growing working-age population too.

ONS 2024-based projection, 2024 to 2049: people above State Pension age 12.4m → 15.3m; working age 44.3m → 46.5m; 280 → 329 pensioners per 1,000 working age. Working age is not the same as employed.

ONS 2024-based principal projection, UK

Group20242049
Above State Pension age12.4m15.3m
Working age44.3m46.5m
Above State Pension age per 1,000 working age280329

The ratio is the published ONS figure, not recalculated from the rounded totals.

Text and data version

More pensioners — and a growing working-age population too. ONS 2024-based projection, 2024 to 2049: people above State Pension age 12.4m → 15.3m; working age 44.3m → 46.5m; 280 → 329 pensioners per 1,000 working age. Working age is not the same as employed.

Records behind this visual summary
MeasureValuePeriodGeographyTypeSource
People above State Pension age, 202412.4m2024United Kingdomprojection (projection)ONS, National population projections: 2024-based
People above State Pension age, 2049 (projected)15.3m2049United Kingdomprojection (projection)ONS, National population projections: 2024-based
Working-age population, 202444.3m2024United Kingdomprojection (projection)ONS, National population projections: 2024-based
Working-age population, 2049 (projected)46.5m2049United Kingdomprojection (projection)ONS, National population projections: 2024-based
People above State Pension age per 1,000 working age, 20242802024United Kingdomprojection (projection)ONS, National population projections: 2024-based
People above State Pension age per 1,000 working age, 2049 (projected)3292049United Kingdomprojection (projection)ONS, National population projections: 2024-based

Available images and their source records are listed on Shareable visuals.

Sources and methods (5)

Method notes

  • Projections are conditional on policy and demographic assumptions and are not forecasts.
  • Poverty is after housing costs; participation is among employees eligible for automatic enrolment.