The number of brides and grooms aged 65 and over has increased by 46% over the last decade. The most recent Office for National Statistics (ONS) marriage data shows:
- Marriages for those aged 65 and over have increased from 7,468 in 2004 to 10,937 in 2014.
- Between 2005 and 2015, the number of men divorcing aged 65 and over went up by 23% and the number of women increased by 38%.
The ONS have stated that the increase in older people ending and forming new relationships is likely to be due to a number of factors such as the fact that people are living longer and also the rise of the ‘silver surfer’ phenomenon (a colloquial term used for older people who access the internet on a regular basis) may be boosting these statistics.
Data from the ONS shows that internet use more than tripled for those aged 65 and over between 2006 and 2013. ONS statistics produced earlier this year show that older people are now catching up with the young in respect of internet use. It has been reported that over 65s are frequently using online dating sites and this may also be behind the rising rate of divorce among over-65s.
Divorce usually has a substantial impact on most couples’ retirement plans. Whether you’re currently going through a divorce or considering your options, it is important to have a complete understanding of how the transition could affect your retirement plans.
If you are concerned about dealing with financial matters upon separation or would like to discuss any of the issues outlined in this post please contact a member of our team for more advice today on 0161 927 3118.