Aviva is launching a “Mid-Life MOT” – providing targeted guidance on wealth, work and wellbeing for its employees aged 45 and above.
The new “Mid-Life MOT” service will launch in 2019 following a successful pilot in 2018.1
The over-45s are the fastest growing population of workers in the UK – growing by more than a quarter of a million people every year - and are set to approach nearly one-in-two workers within the next decade.2
The “Mid-Life MOT” serves three purposes:
- Review: Encourages employees to review their wealth, work and wellbeing at this mid-point in their lives
- Reposition: Supports employees in their repositioning towards a longer working life
- Retain: Supports the retention of valuable skills and experience held by this growing population
The annual growth in the number of workers aged over-45 in the UK2
The new Aviva “Mid-Life MOT” will include guidance seminars for employees aged 45 and above, covering their wealth, work and wellbeing. These will be delivered in all key Aviva UK locations.3
These face-to-face seminars will be complemented by the following three components:
- 12-part guide to support those in mid-life4
- Direction towards existing government-backed resources to help those in mid-life5
- Free 30-minute consultation with a qualified financial adviser to discuss financial needs6
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 – our fastest growing employee population.
“Research shows that those in “mid-life” are the most stressed in the UK.7 They are juggling their needs with the needs of those around them. We believe it is important to support our mid-life employees at what can be a challenging time.
“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.
We are committed to ensuring that age is no barrier to opportunity.
1Aviva’s 2018 pilot with 100 Aviva UK employees aged 45 to 60 included a series of educational seminars, focused on the wealth, work and wellbeing needs of those in mid-life. Results were very positive with strong demand for the seminars and an increase in confidence and awareness of the support available.
2Source: Office for National Statistics, Labour Market figures, 2018
3Open seminars will be delivered across all major Aviva UK sites – London, Bristol, Eastleigh, Norwich, Sheffield, York, Glasgow, Dorking and Perth.
4Aviva’s “mid-life MOT” guide will cover the following 12 sources of support:
- Wealth: Introduction to Aviva’s wide range of free online planning tools to support financial wellbeing and retirement planning
- Wealth: Introduction to Aviva’s one-to-one financial advice service
- Wealth: Introduction to government-provided personal finance support, including PensionWise, the Money Advice Service, the Pensions Advisory Service and the State Pension Forecast.
- Work: Introduction to Aviva apprenticeship opportunities, for all ages. (Aviva’s oldest apprentice today is aged 68)
- Work: Introduction to “mid-career reviews”, inviting employees and managers to consider longer-term aspirations and development needs
- Work: Introduction to Aviva’s wide range of free, online learning & development support
- Work: Introduction to Aviva’s support for “smart working” – e.g. working from home – and phased retirement
- Work: Introduction to Aviva’s in-house “career coaches”, to give one-to-one support for career development
- Work: Introduction to government provided work support, including the National Careers Service.
- Wellbeing: Introduction to Aviva’s wide range of wellbeing support, including access to free physiotherapy and cancer care
- Wellbeing: Introduction Aviva’s “carers policy”, providing a level of support for adult carers as that currently given to carers of young children
- Wellbeing: Introduction to government provided health support, including the NHS Health-Check in England.
5Government-backed resources include PensionWise, the National Careers Service and NHS Healthchecks for the over 40s.
6Employees can access more detailed financial advice after the free 30-minute consultation if they choose to .
7Source of “most stressed” statistic: https://www.ons.gov.uk
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Notes to editors:
- Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
- Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £331 billion in assets (as at 31 December 2018). Total group assets under management at the Aviva group are £470 billion (as at 31 December 2018).
- Aviva helps people save for the future and manage the risks of everyday life; in 2017, we paid out 98% of all our claims across all our markets and insurance products. We paid £34.6 billion in benefits and claims in 2017.
- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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