Aviva Life Insurance Company is among a group of over 20 companies who have founded the Retirement Income Industry Association.
Aviva Life Insurance Company (Aviva) is among a group of over 20 companies who have founded the Retirement Income Industry Association (RIIA). The founding members share a common belief that the financial strategies and products necessary to properly place retirement assets into a distribution mode are inherently different than those used to accumulate assets.
“Senior executives in the financial services industry formed RIIA to meet the retirement income challenge faced by millions in the US,” said Hans L Carstensen, III, president and CEO of Aviva, a founding member of RIIA. “Our goal is to analyze the complex issues associated with the transition from asset accumulation to retirement income and to aid the development of innovative income-related products and services to fit the changing needs of this segment of the market.”
RIIA will focus on the economic and public policy challenges created by the impending retirement of some 76 million baby boomers, the first of whom recently turned 60. RIIA will also assist financial services companies in conveying to the public both the magnitude of the retirement income challenge and the solutions to meeting it. As part of that, RIIA will provide communication tools, training and educational programs for financial intermediaries, investors and the media. In addition, it will create and maintain a comprehensive database of information on retirement trends and retirement income products and services.
“As this immense generation shifts its focus from wealth accumulation to retirement income, the financial industry will change its orientation as well. We believe that the current array of products, processes and communication strategies must be significantly improved in order to provide secure retirement income,” said David Macchia, president and CEO of Wealtpk, Inc.
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For more information:
Tammy Leone
AVP, Marketing Services
Aviva Life Insurance Company
800-225-8073 (x6723)
tleone@avivausa.com
Notes to editors:
RIIA is sponsoring the Second Annual Conference on Managing Retirement Income. The conference will be held in Cambridge, Mass., from February 27 – March 1, 2006. For more information, visit www.riia-usa.org.
Aviva Life Insurance Company and its wholly owned subsidiary, Aviva Life Insurance Company of New York, are subsidiaries of London-based Aviva plc. Aviva plc has roots dating back to 1696 and is one of the 10 largest insurance groups in the world. One of the fastest-growing US life insurers, Aviva Life Insurance Company offers a competitive portfolio of fixed life insurance and annuity products through select independent agents, banks and brokers.