Today is the International Day of Older People, celebrating the contribution that older citizens make to our society.

Older people facts:

• Britain now has more old people than young, for the first time in its history.
• There are now 11.58 million old age pensioners (men over 65, women over 60), and just 11.52 million children under 16, according to the Office for National Statistics. There are 2.7 million over-80s – a figure that has almost doubled since the 1970s.
• There are now nearly 10,000 centenarians in the population – a ninety-fold increase since 1901.
• Living longer means you need to work longer to pay for your longer retirement. By 2020 women, who used to be able to claim their state pension at 60, will have to work until they are 65 (the change is being phased in gradually).
• From 2044 the state pension age for everyone will rise to 68. Likewise, the changes will be phased in over several years. From 6 April 2010 the age will rise gradually until it reaches 68 for those born on 6 April 1978 and later.

Being older can have many benefits. And it’s not just about a free bus pass! Check out the CashQuestions guide for older people.

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