Infographic that outlines the transition between employment and retirement.

1. Finances of the Report
The Real Retirement Over-55s income tracking - June 2012
typical modern
Summer 2012 family
What forms of support did your final employer provide £1,361 £1,359 £1,390 £1,318
when approaching retirement? All 55 – 64s 65 – 74s Over 75s
Percentage of over-55s who survive on less than £500 per month
12% 9% 10%
Workshops/Seminars on Benefit statements Ability to reduce working
retirement finances hours or work flexi-time
9% 7% 9% 5%
12% 11% 10%
2010 Summer 2011 Summer 2012 Summer
Offer to extend my Counselling / advice Written literature on A dedicated member
working life on how to adjust to the financial issues of staff to talk to
retirement surrounding retirement about these issues Top monthly income sources for over 55s
Employer pension 39%
68% of employees want employers to help Investments/savings 27%
£ £
them as they approach retirement £
Employees’ top requests are: Personal pension 34%
35% 35% 21%
State pension 62%
Over-55s have typically
been with their last Wages/other earned income 32%
employer for
financial workshops retirement literature a list of recommended
financial advisers
16 years Benefits inc. unemployment 17% Spouse’s pension 22%

2. Typical savings pots of the over-55s - June 2012 Debt by type of formal borrowing
Hire
Purchase
Personal
Loans
Credit £2,802
Cards
£26,085 £6,544
£3,470
£15,756 £12,998
£9,373
Storecards
All over 55s 55-64 65-74 Over 75
Doorstep
Overdraft lenders £766
Debt of those with a mortgage £846
£1,564
£223,958 £395,098 £208,398 £191,518
£87,500 £82,292
So what does this tell us?
£70,000 £51,786
1.
Take the lead in securing advice – With 64% of employers offering no additional or tailored support
East London East Midlands West Midlands
for employees approaching retirement, you can’t just rely on your workplace for help planning your later
life finances.
2. Consider part-tirement – Some employers are happy to offer you assistance with planning your exit from
£167,411 £178,779 £191,827 £316,827 work so consider whether you might want to work part-time or work beyond the traditional retirement age.
3. Look at the wider implications of stopping work – While retiring will mean a drop in income for most
people, there are other implications. Will you lose your private medical insurance and therefore do you need
£77,500 £47,794 £43,056 £78,040 to take out a private policy?
North East North West Scotland South East 4. What borrowing do you have? – Entering retirement with significant debts, even if you have assets, is not
ideal. Consider how you can use your assets to reduce your debts and therefore your monthly outgoings.
£281,327 £191,389 £165,402 £236,474
In a rapidly changing world it makes sense to make the
most of your retirement; to understand what you have,
£70,000 £37,500 £45,833 £63,555 the options available and ensure you maximise your assets.
South West Wales Yorkshire UK
To find out how Aviva can help
House Price Mortgage visit www.aviva.co.uk/retirement
106000692 07/2012 © Aviva plc