Comment

Intergenerational unity in the UK is at risk, according to new report

Image of a young man and an old man standing next to eachother

Alistair McQueen, Head of Savings and Retirement at Aviva, has commented on a House of Lords report into tackling intergenerational unfairness.1

Alistair said: 

“Today’s House of Lords report sends a clear message: there is a spirit of intergenerational unity in the UK, but it is at risk. Without positive long-term action, an intergenerational storm may be on the horizon.

“This is an important and wide-ranging report. It deserves careful and thorough consideration, and we should avoid any rush to make judgement.

“We are pleased to see the focus given to the intergenerational challenges of a longer working life, alongside those of housing, education, community, taxation and government planning. The report is correct to state that yesterday’s simple three-phased approach to life – education, work and retirement – is coming to an end. We must all be prepared for the prospect of a more fluid and fuller working life.

The report makes more than 20 references to the potential of a “Mid-Life MOT”, to help workers from mid-life prepare for a longer working life. Aviva is leading the way in the adoption of a “Mid-Life MOT”. From 2019 Aviva’s MOT will help its own people consider their work, wealth and wellbeing from the age of 45.2

“Investing in a Mid-Life MOT is an investment in today’s mid-life workers, and in the generations that follow. The challenge of a longer working life is not going away. So, we must invest today to ensure that age is no barrier to opportunity tomorrow.”

- ENDS - 

https://www.parliament.uk/business/committees/committees-a-z/lords-select/intergenerational-fairness/

2 https://www.aviva.com/newsroom/news-releases/2018/10/aviva-launches-mid-life-mot-for-its-over-45s/

Media enquiries

Fiona Whytock

Retirement, Savings & Investments


Notes to editors:

 

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