The generational landscape of UK society is being radically transformed. We will see a predicted 2m growth amongst those aged 65 and over by 2020 (Future Foundation), representing a 20% increase on the current proportion of 65+ year olds in this country.
Ageing baby boomers entering retirement have always represented a huge potential for the charity sector not only as donors, but also as volunteers, with many living longer, healthier lives. Worryingly, however, a significant funding chasm is emerging between baby boomers and the preceding generation, who tend both to give more and volunteer in larger numbers.
This time our Facts and Figures paper addresses the implications of this widening gap in terms of fundraising and volunteering.
The key facts are below. Please download the report for more information.
- There are currently around 11 million people aged over 65 in the UK. By 2033 nearly a quarter of the UK population will be aged 65 and over (Commission on the Voluntary Sector and Ageing: 2014).
- Life expectancy at age 65 is now stretching beyond 20 years for both men and women (ONS: 2015).
- Those aged 50 and over hold 80% of the UK’s wealth and those over 60 contribute more than half of all charitable donations (Pudelek: 2014).
- Those born before 1945, give 34% more than the baby boomer generation (born between 1946 and 1964) (Pudelek: 2013).
- 40% of older people have shopped online (ONS: 2014), but only 17.4% of older donors give online (Xtraordinary Fundraising et al.: 2014).
- People aged 50 and over formed two-thirds of the volunteer workforce and nearly 70% of the total number of hours provided by volunteers (Volunteering in the Third Age: 2009).