Aviva and Age UK announce launch of industry-first mid-retirement MOT...

Aviva and Age UK today announced the launch of an industry-first mid‑retirement MOT pilot to help ensure pension savings last a lifetime.

Aviva, a leading pension provider, and Age UK, the leading charity for older people, published a flagship report last year which found only half (48%) of mid-retirees are confident they are on track to make their private pension savings last for life^[1]. It found many people in their 70s are navigating some of the most complex financial decisions of their lives with little or no structured support.

The case for action is growing. Office for National Statistics figures (May 2026) show people aged 65 today may live another 20 years or more on average^[2] and Department for Work & Pensions research (Aug 2025) found only 18% of people aged 40 to 75 have used regulated advice or guidance^[3].

Pensions UK Retirement Living Standards show that even a moderate retirement lifestyle now costs £32,700 a year for one person and £45,400 for two people^[4] - underlining the importance of reviewing income, savings and spending throughout retirement.

Aviva and Age UK research found almost two thirds (65%) of mid-retirees said there is not enough support to help them manage their financial needs.

To help close this guidance gap, Aviva and Age UK’s mid‑retirement MOT pilot will aim to provide retirees with a practical, holistic check‑up on their finances and wider wellbeing. It combines 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 and running over 12 months, the pilot will aim to support mid‑retirees, 72-76 years old and with a Defined Contribution pension, helping them better understand and plan for a range of later life considerations, including:

• Whether their pension savings are likely to last, and what options are available to help support them
• What state support they might be entitled to
• Estate planning and power of attorney information
• How to spot and avoid scams and fraud
• How to manage household bills and budget on a fixed income

Aviva and Age UK believe valuable insights from the pilot could help shape a blueprint for a government-backed national mid‑retirement MOT – to help ensure future mid-retirees get the right support, at the right time.

Michele Golunska, Managing Director of Wealth at Aviva, said: “Retirement can last much longer than 20 years, but support often drops away 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. We hope the findings will help inform future policy reform and, most importantly, help retirees get ready for the opportunities and challenges of later life, with practical and trusted support.”

 “Mid-Life MOTs and pension wake‑up communications are well-established, but there is a guidance gap in the retirement years. By 2050, the number of people aged over 90 is expected to more than double^[5], underlining the need for better‑timed interventions for people in retirement now and for future generations.”

Paul Farmer, CEO at Age UK, said: "This intervention comes at a crucial time, with ever increasing numbers relying on defined contribution pension saving. 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. Some people will be facing this challenge at the same time as they are experiencing physical and mental health problems too. No-one should be put in such an exposed position. It is essential that support is provided, and this pilot will explore the best way of delivering it. And it’s not just about pensions, the pilot will help address a range of issues, including care needs, tax, scams, and more besides. We’re hopeful that it will provide a template for how best to help people in mid-retirement, a pivotal point in their lives, and that it can be developed into a widespread offer from which everyone can benefit.”

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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. [↑]}

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