22 September 2006
Financial over 50s specialist Saga has called on more people to recognise Grandparents Day this Sunday (September 24th) as the role of the older generation continues to grow.
A Saga study has revealed that the average person is a grandparent by the age of 49 and grandmas and granddads make up almost a quarter (22 per cent) of the population. Almost two thirds of over 50s (60 per cent) are grandparents.
“Grandparents are a vital pillar of family life,” observed Andrew Goodsell, chief executive of Saga.
“Children now benefit from their grandparents leading longer and more active lives than ever before,” he continued, saying that as people live increasingly longer and have substantial families, the role of pensions and retirement finances would grow.
To emphasise the point that people are living longer, Saga notes that the average UK resident spends 15 years as a child, 14 years as an adult with no children, and 22 years as a parent with a dependent child at home, compared with 35 years as a grandparent.
To read advice on pensions and retirement funding, click here.