4 April 2024

Living to 100 years old – a prospect once considered rare, is now increasingly within reach. The number of centenarians worldwide has quadrupled over the last two decades.  In the UK, estimates show that 1 in 4 babies born in 2045 will live beyond 100.

But what does living longer actually mean for us as individuals? Are we prepared as a society to support a growing population of older adults?

To find out, H/Advisors Cicero conducted a survey (powered by Toluna fieldwork) of 1,000 UK adults, exploring people’s hopes, expectations and concerns surrounding this extended lifespan.

How do we feel about living longer?

When asked about their feelings at the thought of living to 100, gratitude and curiosity emerge as people’s most prominent emotions. UK adults are feeling grateful to have the prospect of a longer life and curious about the possibilities presented by longevity.

However, our findings show that over 1 in 4 people (26%) also feel apprehensive about the idea of reaching 100. ‘Anxious’, ‘fearful’ and ‘overwhelmed’ are also commonly cited emotions.

The spectre of old age?

Diving into the concerns that make people feel apprehensive about longevity, our survey reveals that the foremost concern is around declining physical health, with the large majority (78%) of UK adults stating that they worry about this. 2 in 3 (66%) people state that their primary worry is around the prospect of declining cognitive abilities.

While our survey highlights a spectrum of worries, it becomes clear that many of these emotions are due to people feeling unprepared for a longer life. Only half (52%) of the UK adult population feel adequately prepared in terms of career, financial security, and physical health.

The large majority (70%) of UK adults also have concerns around having to plan financially for a longer life. This is coupled with a notable distrust in the public pension system, with 92% stating that private savings and investments will be essential for ensuring financial security in old age.

Silver linings worth looking forward to

Yet, amidst concerns, optimism shines through. The majority of respondents see longevity as an opportunity to enjoy the fruits of their labour (78%) and pursue dreams and passions without time constraints (76%).

Our survey also shows that most UK adults think the prospect of living to 100 can encourage more conscious behaviours earlier in life. 84% of respondents think the idea of longevity could incentivise healthier lifestyles and 77% think it would encourage more proactive financial planning.

Ready or not? Society’s ability to adapt to changing demographics

In light of these hopes and expectations, the fundamental question remains whether society is ready to support individuals to unlock the opportunities offered by an extended lifespan. H/Advisors Cicero’s survey shows that almost two thirds (62%) of UK adults believe society is not adequately prepared to support a growing population of older adults, with 87% doubting the ability of the healthcare system to meet the demands of an ageing population. There is strong consensus (89% agree) that social attitudes toward ageing need to change as life expectancy increases.

To find out more about how we as a society can prepare as the 100-year life becomes a reality, we heard from experts from both health and financial services about building robust systems that can support citizens throughout their lives at our panel event on 9 April.

For a detailed summary of our event or any other queries about the 100-year life, get in touch here.