Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Aviva plc
  6. News
  7. Summary
    AV.   GB0002162385

AVIVA PLC

(AV.)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aviva : More than half of UK adults say pandemic has impacted retirement plans

11/24/2021 | 05:30am EST
  • 54% feel Covid has affected their retirement prospects, with those approaching mid-life feeling the biggest negative pressures on their retirement plans.
  • Two in five UK adults (41%) say the pandemic has encouraged them to build more long-term savings.
  • 37% plan to progress quicker with key life events as a result of the pandemic.
  • However, 59% feel less comfortable about coping with unforeseen events than they did before.

More than half (54%) of UK adults say the impact of the Covid-19 pandemic has affected their plans to retire, according to new research from Aviva.

The findings lay bare the polarising impact of the pandemic and its stop-start effect on people's future plans. While some people envisage retiring earlier and have gained confidence about living comfortably once they retire, nearly one in five (18%) feel less secure about their financial future, peaking at more than one in four (27%) aged 35-44.

Across the generations, the 35-44 age group are the most likely (68%) to have felt some impact on their retirement plans from the pandemic. This has been positive for some, including one in ten who used lockdown to save more for their retirement.

But almost one in six people (14%) aged 35-44 anticipate their retirement date may be pushed back, while 16% have lost confidence in their ability to live comfortably once they have retired.

Pandemic has had profound effect on people's priorities

Aviva's findings show nearly three in five (59%) people feel the pandemic has made them question what's important in life, while half have said it has changed their priorities.

However, the research reveals a nation polarised when it comes to deciding its own destiny. While 41% say the pandemic has made them feel they can take more control of their priorities, the same proportion (41%) say they have less control than they did before.

When it comes to their finances, more than two in five UK adults (41%) say life during Covid-19 has encouraged them to build more long-term savings. People aged 35-44 are most likely to feel compelled to save more for their futures (54%), followed by 51% of those aged 25-34.

However, 59% overall say they feel less comfortable about coping with unforeseen events than they did before the pandemic. This includes more than three in five (62%) of those aged 44-54 and the majority (70%) of over 55s.

Stop/start plans hang in the balance

Aviva's findings also show more than half (53%) of UK adults have suspended or cancelled a planned life event during the pandemic.

Among those affected, almost one in six (16%) have held back from starting a new job; 13% have postponed buying a new house; 12% have thought twice about starting a new business; one in ten (10%) have pressed pause on trying for a baby; and the same (10%) have postponed getting married.

Despite more than half (54%) of people feeling that life has been "put on hold" during the pandemic, many are now seeking to progress quicker with their future ambitions. Among this group, 19% are fast-tracking a move to a new job; 13% will start a new business; and 13% are trying for a baby.

"Aviva is committed to help people put plans into action and keep life on track for the future they aspire to."

Alistair McQueen, Head of Savings & Retirement at Aviva, comments:

"For many of us, the pandemic has had a profound impact on our outlook and caused us to look again at our priorities. The experience of a global health crisis has led many people to put plans on hold and consider the wider implications around significant issues like retirement plans.

"The experience of having decisions taken out of our hands through successive lockdowns has left many people longing for a sense of control. But much as it's encouraging to see people striving to build more long-term savings, our findings show anxiety about the future is still weighing heavily on their minds.

"As we all juggle personal priorities against a backdrop of uncertainty, it's important to look for steps that can help us take control of our circumstances as best we can. Through practical guidance on decision-making and tools like our Mid-Life MOT app, Aviva is committed to help people put plans into action and keep life on track for the future they aspire to."

-ENDS-

Media Enquiries

Fiona Whytock

Retirement, Savings and Investments

  • Phone

    • +44 (0) 7800 692 299
  • Email

    • fiona.whytock@aviva.com
  • Other

Disclaimer

Aviva plc published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 10:29:02 UTC.


ę Publicnow 2021
All news about AVIVA PLC
01/18Today on Wall Street: Changes
01/18ANALYST RECOMMENDATIONS : AirBnb, Alibaba, Aviva, ConocoPhillips, Dollar General, Gap, Und..
01/13JASON WINDSOR : London Shares Drop as Tesco, Persimmon, M&S Fall
DJ
01/13AVIVA : Resignation of Group CFO Jason Windsor
PU
01/13FTSE Tipped to Fall After Downbeat Asia Trading
DJ
01/13UK's Persimmon forecasts higher 2021 margin, appoints new CFO
RE
01/13Aviva CFO Resigns to Take on Same Role at Homebuilder Persimmon
MT
01/13Aviva CFO Jason Windsor Resigns to Join Persimmon
DJ
01/13Aviva plc Announces Resignation of Jason Windsor as Director of the Company
CI
01/13Aviva plc Announces Resignation of Jason Windsor as CFO of the Company with Effect from..
CI
More news
Analyst Recommendations on AVIVA PLC
More recommendations
Financials
Sales 2021 46 647 M 63 215 M 63 215 M
Net income 2021 1 961 M 2 658 M 2 658 M
Net cash 2021 8 664 M 11 741 M 11 741 M
P/E ratio 2021 8,30x
Yield 2021 5,17%
Capitalization 16 233 M 22 011 M 21 999 M
EV / Sales 2021 0,16x
EV / Sales 2022 0,15x
Nbr of Employees 28 596
Free-Float -
Chart AVIVA PLC
Duration : Period :
Aviva plc Technical Analysis Chart | AV. | GB0002162385 | MarketScreener
Technical analysis trends AVIVA PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 432,00 GBX
Average target price 469,71 GBX
Spread / Average Target 8,73%
EPS Revisions
Managers and Directors
Amanda Blanc Chief Executive Officer & Executive Director
Jason Michael Windsor Strategy, Mergers & Acquisitions Director
Mark George Culmer Non-Executive Chairman
John Cummings Chief Information Officer
Nitinbhai Babubhai Maganbhai Amin Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
AVIVA PLC5.26%22 011
AXA5.08%74 580
METLIFE, INC.6.35%55 189
PRUDENTIAL PLC2.39%48 359
PRUDENTIAL FINANCIAL, INC.1.64%41 584
AFLAC INCORPORATED4.23%40 261