Alistair McQueen, Head of Savings & Retirement at Aviva comments on the government’s decision to increase the state pension age.
Commenting on the government’s decision to increase the state pension age, Alistair McQueen, Head of Savings & Retirement at Aviva said:
“In reviewing the state pension age, Sir John Cridland’s brief was to deliver “a fair and affordable recommendation that encouraged a longer working life” (1).
“The state pension is a core part of retirement planning in the UK. Aviva’s own research tells us that 98% of over-55s see it as important to UK society and 80% see it as important to their own retirement finances (2).
“Aviva’s research also tells us that many people are confused by the state pension. The future increases in the state pension age must be communicated clearly and extensively. This will allow all to plan with clarity and confidence.
“We are also keen to see how the government responds to Crildand’s other recommendations – including support for those most in need in later life, such as carers, and the encouragement of career “MOTs” for those in their 50s. A full package of measures is needed to make the most of our longer working lives.”
- Source: https://www.gov.uk/government/publications/state-pension-age-independent-review-final-report
- Source: Aviva Real Retirement Report Winter pdf
Fiona Whytock, Senior Media Relations Manager T: +44 (0)7800 692299 E: Fiona.email@example.com
Notes to Editors:
- Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
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- Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.4 billion in benefits and claims in 2016.
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