Over-40s feel financially 'out of control', research finds

Clear evidence for value of advice

Carmen Reichman
clock • 3 min read

More than half of people approaching pre-retirement age have not made any plans for the financing of their later life, with those in their forties particularly at risk, research has suggested.

About 54% of people in their forties and 49% of those in their fifties have "not done anything" to plan their retirement, research by Aviva found. The insurer found about one in five people in their forties - the group most likely to be under financial pressure - felt "mostly or completely out of control of their lives". In this age group only 18% said they have spoken to a financial adviser, and 10% have made a full financial plan, Aviva said. The insurer surveyed 6,000 people aged 30 plus in September last year as part of its Voice of New Retirement study, which measured people's...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pensions gender gap: A low-profile injustice that deserves more attention

Pensions gender gap: A low-profile injustice that deserves more attention

'Pensions are one of the few financial products where time is the single biggest driver of outcome'

Jessica Cook
clock 24 August 2026 • 4 min read
Advisers place focus on retirement support as providers lack 'meaningful' engagement

Advisers place focus on retirement support as providers lack 'meaningful' engagement

People’s Pension poll shows 54% of IFAs say providers struggle to create ‘meaningful’ engagement

Martin Richmond
clock 19 August 2026 • 3 min read
Pensioner poverty has risen for more than a decade, warns LCP

Pensioner poverty has risen for more than a decade, warns LCP

Single and divorced pensioners most affected and should be focus for future policy

Alex Levy
clock 18 August 2026 • 4 min read