Deaths of Baby Boomers will ‘peak in 2044’ when the generation’s women will be 90 and its men 88, new research has shown.
Baby Boomers, who precede Generation X, were born between 1946 and 1964 meaning they experienced free university education and have retired with a healthy sized pension.
This year alone 1,641 men and 1,258 women who were born in 1946 are expected to die, reports The Times.
Data from the Office for National Statistics (ONS) also suggests that over all 29,471 baby boomers are likely to die in 2019 with the number increasing until it reaches a peak in 2044.
Office for National Statistics also suggests that over all 29,471 baby boomers are likely to die in 2019 (file picture)
This number creeps up to 58,759 in 2029 and 104,443 in 2039 before reaching its peak 25 years from now.
For people of this age group, men are expected to live until they are 88 and women until they are 90.
The baby boom experienced two spikes. The first occurred after soldiers returned from war in 1947 and the second was in 1964, when 875,972 babies were born.
However there was a drop in birth rate after the Abortion Act was passed.
There was also a spike in birthrate after the First World War where births almost hit one million in 1920.
Baby Boomers lived through a boom in the housing market and many could buy their own homes, something which their grandchildren may never achieve.
Baby Boomers lived through a boom in the housing market and many could buy their own homes, something which their grandchildren may never achieve (file picture)
Now that the Baby Boomer generation has reached retirement there is a shortage of homes for them to move into.
Lawrence Bowles, of Savills, the property firm, told The Times developers were building retirement homes at an ‘accelerating rate.’
However he said it was still: ‘A long way from [what is needed] to meet the demographic need and chunk [of retirees] that is coming.’
Ian Mulheirn, of Oxford Economics, a consultancy, said he didn’t believe the Boomers would move to retirement homes to boost the number of houses available on the market for new buyers.
He said: ”[Their children will] have to wait until interest rates globally start to rise and, [then] high levels of house prices will be unsustainable.’