This forecast for the UK’s old age net social protection from 2024 to 2028 shows a steady increase, starting at 268 billion Euros in 2024 and reaching 277.3 billion Euros in 2028. In 2023, actual spending was slightly below the 2024 forecast, suggesting continued growth in this area. Year-on-year variation indicates a moderate growth trend, approximately maintaining a 1% increase annually. Over the five-year period, the Compound Annual Growth Rate (CAGR) is around 1%.

Future trends to watch for include:

Potential policy changes impacting funding levels.
Demographic shifts leading to an increased elderly population requiring increased social protection.
Economic factors affecting government budget allocations.