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Time to read: 2 minutes
The Office of National Statistics has recently released data that
shows that divorce among the over 60s is on the rise. This has sparked a great deal of debate surrounding
the underlying reasons for this trend. Suggestions include increased life
expectancy, the lack of stigma associated with being divorced and people (men in particular) having their midlife crisis later in life once the children have
left the nest.
There is potentially another aspect of modern
living which could be contributing to the growing number of the 60+ generation
who are willing to call it a day on marriages. Thirty years ago, when these so
called “silver splitters'” parents were in the 60+ bracket few homes had a
computer, there were only four channels on the television and if you wanted to
stay in touch with old friends you had to either put pen to paper or pick up
your (home) phone or take a handful of change to a local phone box. Today
social media is everywhere and our scope for interaction with people and
information has increased exponentially over the last few decades whether
through computers, television or mobile phones. This has made connecting with
long lost school chums or old girlfriends/boyfriends much easier and the 60+
generation is no exception. After all, who hasn’t
run into their parents on Facebook! Online dating is also more accessible and
socially acceptable than ever before and there are many websites dedicated to
finding love for the older/post-retirement generation. Thanks to the online
revolution, becoming single again in one's 60s may not be as daunting or lonely
a prospect as it used to be.
Whilst it is important to remember that each
divorce will turn on its own facts, couples who have reached, or are
approaching, retirement will often have different priorities to those who are
divorcing in their 30s or 40s. The children are likely to have grown up and will
have completed their education and the parties will be at or near the end of
their working lives and will most likely be looking to pensions for their
income. After so many years of financial
interdependence, providing each party with adequate means to live financially independent
lives may be difficult to achieve, particularly where one party has been out of
the workforce for several decades and has no scope for developing any earning
capacity or contributing further to a pension. Perhaps then, those silver
splitters wanting to re-establish their independence or start a new
relationship following their divorce might find it more difficult to achieve
the financial independence to go with their new found single status.
