Pensions 

Aviva to roll out mid-life MOT in 2019

Aviva to roll out mid-life MOT in 2019

Aviva will be rolling out its mid-life MOT to its employees aged 45 and over in 2019 after a pilot earlier this year.

The service will encourage consumers to review their wealth, work and wellbeing while supporting them through a longer working life.

The mid-life MOT will include guidance seminars for employees aged 45 and above as well as access to existing government-backed resources.

Those using Aviva’s mid-life MOT will be given a free 30-minute consultation with a qualified financial adviser to discuss financial needs.

The product roll out follows a series of separate pilots carried out by The Pension Advisory Service, Legal and General and Mercer earlier this year.  

Lindsey Rix, managing director of savings and retirement at Aviva, said: "We are committed to supporting our employees and today marks the next step in our plans to support them through mid-life and beyond.

"In 2018 we successfully piloted the idea of a mid-life MOT. In 2019 we will maintain the momentum by introducing it across the UK.

"Our mid-life MOT encourages employees to take time out to review where they are today, and to reflect on where they want to go tomorrow.

"We also want to send the signal that we value the skills and experience carried by all our employees in mid-life and beyond. We believe this population has much more to give, and much more to gain."

The Centre for Ageing Better published a report called Developing the mid-life MOT last month which highlighted demand for such a service from those involved in the various pilots.

Ray Black, financial planner and director at Money Minder, said: "I think it’s great that we have very large and experienced pension and investment organisations trying to engage workers in to the retirement planning mind set as early as possible.

"However, I also hope that they don’t make the mistake of worrying those people so much about what  they won’t have in retirement if they don’t start saving loads more money in to their pension straight away that it ends up with them doing absolutely nothing.

"As a profession, our aim should be to help people to see all of the positive points about saving in to pension plans and what a difference putting some money aside as soon as possible could make to them when they retire and what kind of retirement lifestyle they might be able to look forward to if they are committed to saving for it. If mid-life MOT’s can help us to achieve that outcome, I’m all for them."

rosie.quigley@ft.com

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