In our recent survey of 2,140 people aged between 50 and 65, we found that 87% of them wanted some form of guaranteed income in retirement. With current volatile market conditions, the credit crunch and falling house prices, they’re unsure what the future holds.
Changing demographics
Statistics show that we’re living longer, healthier lives, so your clients could be looking forward to a lengthy retirement. These figures* show how our population is changing:
- the UK population increased by 8% from 1971 to mid-2006, but the number of people aged 65 and over increased by 31% to 9.7 million
- in mid-2006, 16% of the UK population were aged over 65
- by 2031 the projected number of people in the UK aged over 50 is 27 million
*Office of National Statistics, November 2007
Market turbulence
The graph below highlights just how volatile the markets have been in recent years.
- Between 31 December 1999 and 31 January 2003, the FTSE 100 fell by 44%.
- Between 31 January 2003 and 29 June 2007, it rose by 116%.
- Within the space of a month – from 30 May 2008 to 30 June 2008 – it fell by nearly 7%.
Source: Lipper, using Hindsight 5 by AEGON Scottish Equitable
We know that you and your clients have had to take on this risk when investing or saving for retirement. And in tough market conditions, that could lead to some difficult conversations. Our guaranteed product range, including 5 for Life from AEGON Scottish Equitable International, gives your clients peace of mind by performing regardless of how long they live or what the markets are doing.
What does this mean for you?
Your clients need to plan their income and secure their capital for longer – and they’ll be looking to you for advice. We have products you can recommend to give them the reassurance they need.
To find out more about One of life’s guarantees, and for your chance to win a weekly prize, play our Guaranteed strike? ten-pin bowling game .
Alternatively, get in touch with your local AEGON Scottish Equitable consultant or call your access account manager on 0845 61 000 61.
