Sixty-five to 79 is the happiest age group for adults, according to Office for National Statistics research.
The survey of more than 300,000 adults across the UK found life satisfaction, happiness and feeling life was worthwhile all peaked in that age bracket, but declined in the over-80s.
Those aged 45 to 59 reported the lowest levels of life satisfaction, with men on average less satisfied than women.
That age group also reported the highest levels of anxiety.
Researchers said one possible reason for the lower happiness and well-being scores among this age group might be the burden of having to care for children and elderly parents at the same time.
The struggle to balance work and family commitments might also be a factor, they said.
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