Aviva and Age UK Call for Better-Timed Retirement Support as Pension Decisions Grow More Complex

Aviva and Age UK Call for Better-Timed Retirement Support as Pension Decisions Grow More Complex

(IN BRIEF) Aviva and Age UK have launched an industry-first mid-retirement MOT pilot to help retirees manage pension savings, finances and wider later-life needs. The pilot follows research showing that only 48% of mid-retirees are confident their private pension savings will last for life, while 65% believe there is not enough support available to help them manage their financial needs. The 12-month pilot will launch later this year and support people aged 72 to 76 with Defined Contribution pensions. It will combine telephone support through Age UK’s National Advice Line with face-to-face sessions from local Age UK partners in Norwich, York, Bristol and Sheffield. The support will cover pension sustainability, state benefits, estate planning, power of attorney, scams and fraud prevention, household bills and budgeting on a fixed income. Aviva and Age UK hope the pilot will generate evidence for a future government-backed national mid-retirement MOT.

(PRESS RELEASE) LONDON, 15-Jul-2026 — /EuropaWire/ — Aviva and Age UK have announced the launch of an industry-first mid-retirement MOT pilot, designed to help people in later life make informed decisions about their pension savings, finances and wider wellbeing.

The pilot aims to support retirees at a stage when many are managing complex financial choices with limited structured guidance. It follows a flagship report published by Aviva and Age UK last year, which found that only 48% of mid-retirees felt confident they were on track to make their private pension savings last for life.

The research also found that nearly two thirds of mid-retirees, 65%, believe there is not enough support available to help them manage their financial needs in retirement.

Aviva and Age UK said the need for action is becoming more urgent as retirement lasts longer for many people. Office for National Statistics figures show that people aged 65 today may live for another 20 years or more on average, while Department for Work & Pensions research cited by Aviva found that only 18% of people aged 40 to 75 have used regulated advice or guidance.

The cost of retirement is also rising. Pensions UK Retirement Living Standards show that a moderate retirement lifestyle now costs £32,700 a year for one person and £45,400 for a couple, underlining the importance of regularly reviewing income, savings and spending throughout retirement.

The mid-retirement MOT pilot will provide a practical and holistic check-up covering both finances and broader later-life considerations. It will combine telephone support through Age UK’s National Advice Line with face-to-face sessions delivered by local Age UK partners, either in people’s homes or at local Age UK offices.

The pilot has been co-designed with local Age UK partners in Norwich, York, Bristol and Sheffield, where both Aviva and Age UK have strong community links.

Launching later this year, the pilot will run for 12 months and focus on mid-retirees aged 72 to 76 who have a Defined Contribution pension.

The support will help participants better understand a range of later-life issues, including whether their pension savings are likely to last, what options may be available to support them, what state support they may be entitled to, estate planning, power of attorney, scams and fraud prevention, household bills and budgeting on a fixed income.

Aviva and Age UK believe the pilot could provide valuable evidence for a future government-backed national mid-retirement MOT, designed to ensure people receive the right support at the right time during retirement.

Michele Golunska, Managing Director of Wealth at Aviva, said retirement can last more than two decades, yet support often reduces once people stop working.

“As the Pensions Commission considers how to improve retirement outcomes for future generations, this pioneering mid-retirement MOT pilot will provide valuable insight into the support people need to look after their finances in later life,” said Golunska.

She added that the findings could help inform future policy reform and support retirees as they prepare for the opportunities and challenges of later life.

Golunska also noted that while mid-life MOTs and pension wake-up communications are well established, there remains a clear guidance gap during the retirement years.

By 2050, the number of people aged over 90 is expected to more than double, strengthening the case for better-timed support for people already in retirement and for future generations.

Paul Farmer, Chief Executive Officer at Age UK, said the intervention comes at a crucial time as more people rely on Defined Contribution pension savings.

“As there is currently no widely available structured support available at this point in people’s lives, as things stand many will be left in the difficult position of having to take important decisions about their pensions while effectively guessing how long their money needs to last,” said Farmer.

He added that some people may face these financial decisions while also dealing with physical or mental health challenges.

Farmer said the pilot will explore the best way to deliver support and will address not only pensions, but also issues including care needs, tax, scams and other later-life concerns.

Age UK said the initiative could become a template for helping people in mid-retirement at a pivotal point in their lives, with the potential to develop into a broader offer available to more retirees in the future.

Age UK is a charity working locally, nationally and internationally to improve later life through advice, support, research, campaigning, friendship services and community-based help for older people.

References:

Sources contain public sector information licensed under the Open Government Licence v3.0.

1. All stats, unless stated otherwise, are from the Aviva and Age UK ‘Retirement Reality’ Report, published May 2025. Ignition House is a research consultancy specialising in market research and consulting. The report is based on an online survey Ignition House conducted with a nationally representative sample of 1,000 UK people aged 65-75 years old who hold a non-advised private pension, excluding people in receipt of state pension only and those with more than £20,000 defined benefit pension household income per year. Research was conducted from October to November 2024. Download the report and executive summary: Aviva and Age UK Report – Retirement Reality: Managing money in mid-retirement [↑]

2. Office for National Statistics, 15 May 2026: Past and projected period and cohort life tables: 2024-based, UK, 1981 to 2074. Females aged 65 years in the UK in 2024 can expect to live a further 22.7 years on average, and males a further 20.0 years based on cohort life expectancy, with this projected to rise to 24.6 years for females and 22.0 years for males in 2049. Period life expectancy at birth in the UK is projected to reach 88.3 years for females and 85.0 years for males in 2074. This is a projected increase of 5.0 years for females and 5.6 years for males compared with 2024 (83.3 years for females and 79.4 for males). [↑]

3. Department for Work & Pensions, 14 Aug 2026: Planning and Preparing for Later Life 2024 [↑]

4. Pensions UK Retirement Living Standards, May 2026 [↑]

5. Aviva and Age UK Report – Retirement Reality: Managing money in mid-retirement, May 2025, page 70: By 2050, the number of people over 90 will have grown from 600,000 today to just over 1.4 million. [↑]

Additional information:

About Age UK

• Age UK believes every older person should be valued and included. We’re working locally, nationally and internationally to change the way we age.
• Together with our partners, we’re changing the day-to-day experience of getting older through essential services and local support – like help at home, exercise classes and digital inclusion. Local Age UKs deliver these services, using their expert knowledge of their area to transform older people’s health, wellbeing and finances.
• Our specialist, impartial advice is changing how older people feel when they face a challenging issue – whether it’s care, money, health or housing. A call to our free advice line, a visit to our website, or a face-to-face appointment at a local Age UK can help change older people’s worries into answers.
• Our friendship services are changing the issue of loneliness among older generations. From weekly chats on the phone and local in-person befriending to round the clock support from our Silver Line Helpline, we’re changing loneliness and isolation into comfort and connection.
• We’re an expert voice on ageing, changing the way older people are treated and represented in society through research and campaigning. We work with local, national and international policymakers to challenge inequalities and push for the changes that’ll improve older people’s lives.
• Through Age International we are changing the lives of older people facing emergencies and long-term challenges in low and middle-income countries.
• Your support makes our work possible. By donating, campaigning and volunteering, you’ll help change older people’s lives – now and in the future.
• Age UK is a charitable company limited by guarantee and registered in England (registered charity number 1128267 and registered company number 6825798). Charitable services are provided through Age UK and commercial products are offered by the Charity’s Community Interest Company (CiC) (registered company number 1102972) which donates its net profits to Age UK (the Charity)

Notes to editors:

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Media Contact:

Shelley Kernaghan
Retirement and Annuities
Phone: +44 (0) 7800 692 266
Email: shelley.kernaghan@aviva.com

SOURCE: Aviva