There are now nearly 612,000 people aged 90 or over living in the UK, with the number heading upwards, according to analysis of official figures from retirement specialist Just Group.

Figures for 2023 from the Office for National Statistics show the number of people aged 90+ has doubled over the last 30 years.

About one in every 100 people is now aged at least 90 while the number of centenarians has doubled in 20 years to more than 16,000.

The figures highlight the need for those heading into retirement to be realistic about how long they will need their pension income to last, according to Stephen Lowe, group communications director at Just Group.

He said: “It’s very tricky to apply life expectancy figures to retirement planning because individuals are very unlikely to be average – none of us know if we will be hit by the proverbial bus tomorrow or live to get a card from the King.

“However, official figures do show the odds of living to beyond 90 are high enough that people shouldn’t assume it can’t happen to them.”

Historically, older people have been mainly women but the numbers of men are catching up fast, he pointed out.

The ratio of women over age 90 to men was about 2:1 in 2023 compared to 4:1 in the 1980s.

He said that for those who are 66 this year and starting to take state pension, there is about a one in three chance (33%) for men and nearly an evens chance (46%) for women of making it to at least age 90. “And if they do get to age 90 there is nearly an evens chance they will survive beyond 95.”

He said that planning for retirement involves covering all the ‘what ifs’ of later life. “There are really three scenarios to consider – you die around average life expectancy, or you die sooner, or you live longer. The plan needs to cover all three bases.”