UK: Mid-life misery: The sad, seventeen million “sandwich generation”

A period of economic recovery and high employment may have contributed to this relative joy.

This is the view of the country as a whole, but analysis from Aviva shows that the picture is different for different ages, especially for those in mid-life. 

Life may begin at 40, but it also appears to be the age at which our burdens begin to weigh heaviest.  The underlying data shows that we are the least happy, least satisfied and most anxious in our 40s and 50s – an age that is often referred to as “the sandwich generation” as we struggle to support younger and older family members at the same time. (See tables below)                               

The challenges facing those in their 40s and 50s are numerous, including a changing and longer working life. The State Pension Age is set to rise for all, and those defining themselves as “retired” before they reach 65 is at the lowest level we’ve seen since 1997 (1.2 million people today, down from 1.6 million in 2011)[1]. The reality of a longer working life is not lost on those in their 40s and 50s.

As our life expectancy increases, a longer working life should be encouraged – but planning and preparation must also be encouraged.

Aviva’s own research[2] identified a clear link between contentment in later life and those individuals who plan for their retirement at an earlier age. Aviva found that two-thirds (68%) of today’s retirees who began planning for retirement a long time in advance have reported that their retirement exceeded their expectations. This compares to less than one-in-two (48%) of those who had made no plans. Worryingly, half of those in their 40s and 50s (54% and 49%, respectively) said they had done nothing yet to prepare for their retirement.

Commenting on today’s report, Alistair McQueen, Head of Savings & Retirement at Aviva said:

“There are over 17 million people in their 40s and 50s[3]. Our analysis suggests it is an age of challenge. The sandwich generation are being squeezed by pressures from all sides.

“Our happiness will be shaped by various factors, many of which may be outside our direct control. However, we can take control of planning our finances for later life and this has the potential to boost our happiness.

“Simple actions like understanding our entitlements from the state at retirement; our current levels of saving; and our potential income in retirement could be the first steps towards building this sense of control.

“As our life expectancy increases, a longer working life is understandable and should be encouraged. Age should not be a barrier to contribution, but people must also be encouraged and helped to plan as they adapt to this change.”

ONS Personal Wellbeing - Happiness league tables

	Happiness league tables - by age
	2011/12	2012/13	2013/14	2014/15	2015/16
Most happy age	75 to 79	70 to 74	65 to 69	65 to 69	65 to 69
	70 to 74	65 to 69	70 to 74	70 to 74	70 to 74
	65 to 69	75 to 79	75 to 79	75 to 79	75 to 79
	80 to 84	16 to 19	16 to 19	80 to 84	16 to 19
	16 to 19	80 to 84	80 to 84	16 to 19	85 to 89
	60 to 64	85 to 89	60 to 64	60 to 64	80 to 84
	85 to 89	60 to 64	85 to 89	85 to 89	60 to 64
	90 & over	90 & over	30 to 34	30 to 34	25 to 29
	25 to 29	30 to 34	25 to 29	25 to 29	90 & over
	20 to 24	25 to 29	90 & over	20 to 24	20 to 24
	35 to 39	20 to 24	20 to 24	35 to 39	30 to 34
	30 to 34	35 to 39	35 to 39	40 to 44	35 to 39
	55 to 59	40 to 44	40 to 44	90 & over	55 to 59
	40 to 44	55 to 59	55 to 59	55 to 59	40 to 44
	50 to 54	50 to 54	45 to 49	45 to 49	50 to 54
Least happy age	45 to 49	45 to 49	50 to 54	50 to 54	45 to 49

ONS Personal Wellbeing - Satisfaction league tables

	Satisfaction league tables - by age
	2011/12	2012/13	2013/14	2014/15	2015/16
Most satisfied age	16 to 19	16 to 19	16 to 19	16 to 19	16 to 19
	75 to 79	70 to 74	70 to 74	70 to 74	70 to 74
	65 to 69	75 to 79	65 to 69	65 to 69	65 to 69
	70 to 74	65 to 69	75 to 79	75 to 79	75 to 79
	80 to 84	80 to 84	80 to 84	80 to 84	80 to 84
	90 & over	85 to 89	25 to 29	25 to 29	85 to 89
	60 to 64	90 & over	30 to 34	30 to 34	25 to 29
	85 to 89	20 to 24	60 to 64	20 to 24	20 to 24
	25 to 29	25 to 29	85 to 89	60 to 64	30 to 34
	20 to 24	60 to 64	20 to 24	85 to 89	60 to 64
	30 to 34	30 to 34	90 & over	90 & over	35 to 39
	35 to 39	35 to 39	35 to 39	35 to 39	90 & over
	40 to 44	40 to 44	40 to 44	40 to 44	40 to 44
	55 to 59	55 to 59	55 to 59	55 to 59	55 to 59
	50 to 54	50 to 54	45 to 49	45 to 49	45 to 49
Least satisfied age	45 to 49	45 to 49	50 to 54	50 to 54	50 to 54

ONS Personal Wellbeing - Anxiety league tables

	Anxiety league tables - by age
	2011/12	2012/13	2013/14	2014/15	2015/16
Most anxious age	50 to 54	50 to 54	50 to 54	50 to 54	55 to 59
	45 to 49	55 to 59	55 to 59	55 to 59	50 to 54
	55 to 59	45 to 49	45 to 49	45 to 49	40 to 44
	40 to 44	40 to 44	40 to 44	40 to 44	45 to 49
	35 to 39	35 to 39	35 to 39	35 to 39	35 to 39
	30 to 34	30 to 34	60 to 64	60 to 64	30 to 34
	25 to 29	60 to 64	30 to 34	30 to 34	60 to 64
	60 to 64	25 to 29	25 to 29	16 to 19	25 to 29
	20 to 24	20 to 24	20 to 24	25 to 29	20 to 24
	80 to 84	70 to 74	70 to 74	80 to 84	90 & over
	90 & over	65 to 69	65 to 69	20 to 24	16 to 19
	85 to 89	75 to 79	75 to 79	85 to 89	85 to 89
	65 to 69	16 to 19	80 to 84	75 to 79	75 to 79
	70 to 74	80 to 84	90 & over	70 to 74	80 to 84
	75 to 79	85 to 89	16 to 19	90 & over	65 to 69
Least anxious age	16 to 19	90 & over	85 to 89	65 to 69	70 to 74

Ends

Media Enquiries:

Fiona Whytock, Senior Media Relations Manager, T: +44 (0)7800 692299 E: Fiona.whytock@aviva.com  

Alistair McQueen, Head of Savings and Retirement at Aviva is available for interview today

Notes to editors:

• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.  
• Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £340 billion in assets. Total group assets under management at Aviva group are £450 billion.
• Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.4 billion in benefits and claims in 2016.
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