Aviva is tackling one of the nation’s retirement concerns head on with a new series of television and press adverts focusing on annuities.
The campaign, which can be seen on UK TV screens now, shows how by choosing the right annuity, individuals can boost their retirement income by up to 10%. The adverts are designed to inform consumers about the importance of shopping around for the best annuity rate, rather than simply sticking with their current pension provider.
Nearly 450,000 annuities are taken out in the UK each year* but it is estimated that only 37% are taken out using the Open Market Option. Aviva – one of the UK’s leading providers of retirement solutions – estimates that many consumers could get up to 10% more income if they chose this route.
Gary Pepler, marketing, brand and communications director for UK Life, Aviva says: “When devising this campaign we worked extremely closely with people approaching and in retirement to truly understand their wants and needs. We discovered that while most new retirees love the freedom that retirement affords, there are still concerns over managing money.
“For example, nearly half of retirees said they found it difficult to adjust to living on their retirement income in the first year, and more than a quarter said they overspent, seven per cent by a significant amount. Our latest advertisement series is just one of the ways in which we are addressing the concerns of today’s retirees by helping to maximise their retirement income.
“At Aviva we are keen to work with our customers to offer advice and find the right solutions to give them a more comfortable retirement, whatever their circumstances. It is vital that people make best use of the full value of their assets, whether these are pensions, property or savings. By taking control of retirement planning sooner rather than later and by seeking sound financial advice, we can help to alleviate people’s fears and prepare them for the retirement they deserve.”