Aviva and Age UK have announced the launch of a mid-retirement MOT pilot to help retirees assess whether their pension savings will last throughout later life.

The organisations described the initiative as an industry first, designed to address the lack of structured financial support available to people after retirement.

The 12-month pilot is expected to launch later this year and will support people aged between 72 and 76 who have defined contribution (DC) pension savings.

It will combine telephone support through Age UK’s National Advice Line with face-to-face sessions delivered by local Age UK partners, either in participants’ homes or at Age UK offices.

The pilot has been co-designed with Age UK partners in Norwich, York, Bristol and Sheffield, where both organisations have existing community links.

Participants will receive a practical and holistic review covering whether their pension savings are likely to last, the options available to support their income and any state benefits to which they may be entitled.

The sessions will also provide information on estate planning and powers of attorney, avoiding scams and fraud, and managing household bills on a fixed income.

The initiative follows research published by Aviva and Age UK last year, which found that fewer than half (48 per cent) of people in mid-retirement were confident their private pension savings would last for the remainder of their lives.

Almost two-thirds, 65 per cent, of those surveyed said there was insufficient support available to help them manage their financial needs.

Indeed, Aviva and Age UK warned that many people in their 70s were making complex financial decisions with little or no structured assistance, despite the potentially long period over which their savings must provide an income.

Office for National Statistics figures from May 2026 showed that people aged 65 could, on average, live for a further 20 years or more, while the latest Pensions UK Retirement Living Standards estimated that a moderate standard of living in retirement would cost £32,700 a year for one person and £45,400 for a two-person household.

Aviva and Age UK said this reinforced the importance of reviewing income, expenditure and savings throughout retirement, rather than treating retirement planning as a one-off exercise conducted before leaving work.

Aviva managing director of wealth, Michele Golunska, stated that support fell away once people stopped working, despite retirement potentially lasting for more than two decades.

“As the Pensions Commission considers how to improve retirement outcomes for future generations, this pioneering mid-retirement MOT pilot will provide valuable insight into the support people need to look after their finances in later life," she said.

“We hope the findings will help inform future policy reform and, most importantly, help retirees get ready for the opportunities and challenges of later life, with practical and trusted support.”

Golunska noted that while mid-life MOTs and pension wake-up communications were already established, but argued that there remained a “guidance gap” during retirement itself.

“By 2050, the number of people aged over 90 is expected to more than double, underlining the need for better-timed interventions for people in retirement now and for future generations,” she warned.

Age UK chief executive officer, Paul Farmer, added that the intervention was particularly important as a growing number of people became reliant on DC pension savings.

“As there is currently no widely available structured support at this point in people’s lives, as things stand many will be left in the difficult position of having to take important decisions about their pensions while effectively guessing how long their money needs to last," he said.

“Some people will be facing this challenge at the same time as they are experiencing physical and mental health problems too. No-one should be put in such an exposed position.”

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