To mark Older People’s Day today and to encourage the thousands of active people over the age of 70 who make a significant contribution to society, The Times is again to offer an Active Life Award.

Sponsored jointly with Sir Sigmund Sternberg, the 88-year-old philanthropist and co-founder of the Three Faiths Forum, the award offers a prize of £5,000 to the winner and five prizes of £1,000 to the runners-up.

It is designed as a celebration of old age and an encouragement to the thousands of older people who choose to keep working after pensionable age, either as volunteers or for charitable causes that benefit others.

Nominations are invited from anybody aged over 18 who knows of somebody over 70 whose life and continuing achievements are an inspiration to others.

The winner of the inaugural award last year was Helen Bamber, who, in 2005 aged 80, set up the Helen Bamber Foundation to offer support to people who had suffered human rights violations.

Proposers cannot nominate themselves, and must first check that their nominees are happy for their names to go forward. The closing date is November 6 and the winner will be chosen on December 31. This year’s judges will include Katy Bravery, the editor of Saga Magazine, the businessman Sir Tom Farmer, Baroness Neuberger, Cristiana Sorrell, Sir John Ritblat and Angela Eagle, MP.

The launch of this year’s award is timed to coincide with Older People’s Day, which has been marked in Britain since 2007. Last year about 900 events were organised, involving 50,000 people.

This year, the day is being supported by RSVP, Counsel and Care, The Prince’s Trust, Bupa, BUPA, the Alzheimer’s Society, Independent Age, Contact the Elderly, University of the Third Age, Age Concern/Help the Aged and many other organisations.

A photographic exhibition, Age, Snapped, in Central London will include images of older people and celebrate achievements and aspirations.

The Times/Sternberg award comes at a time when more and more people are living well into their 80s. Government figures forecast that in 20 years’ time a quarter of Britain’s population will be over 65 and the number of people over 85 will have doubled. Already in 2007, pensioners outnumbered children for the first time. One in four children born today can expect to live to be 100 and there are 10,000 people aged 100 or over. By 2050 it is estimated that there will be 250,000 centenarians.

Work patterns are also changing. In 1950 the ratio of people in employment to pensioners was eight to one, whereas last year the proportion had fallen to four workers for every pensioner. Today a person can expect, on average, to live for 24 years after retirement age.

The figures show that an increasing number of older people are now involved in volunteering, caring for others and providing childcare for grandchildren. An HSBC survey found that the over-60s contributed about 18 million hours a week in unpaid work.

Even at the minimum wage, this is worth £4.3 billion a year. Almost a third of unpaid carers in England are aged 60 or over, and by 2031, 1.2 million people over 65 will receive care from their husband or wife.

Among the runners-up for The Times/Sternberg award last year were Jean Stogdon, the founder found of the charity Grandparents Plus, Eric Wetherell, the musical director of the Bristol Gilbert & Sullivan Operatic society who wrote an opera when he was 83, and Jack Shapiro who, at the age of 92, was a prime mover in building the British Tinnitus Association and was Vice-President of the Royal National Institute for Deaf People.