60% of the world’s pre-retired adults worry they haven’t saved enough for retirement. To combat the problem Aviva launches www.six-steps.org to provide free, unbiased advice on retirement planning1

Six in ten (60%) pre-retirees across the world are under prepared for the financial rigours of retirement prompting real concerns of a global pensions crisis, according to a study by savings, investment and insurance group Aviva.

The annual study – Consumer Attitudes to Savings2 - which has over three years surveyed 50,000 people from 23 countries, conducted by Henley Centre Headlight Vision, found that 48% all of retired people regret not doing more to provide for their retirement and half of all pre-retirees expect to work in their twilight years to fund their future.

Richard Harvey, group chief executive at Aviva, comments: “Our research shows that the pensions black hole is not just a UK-specific issue but an area of global concern. Broadly, the world’s pre-retired population seems to have resigned itself to the fact that the term ‘retirement age’ may not apply to a specific age and will become increasingly ambiguous.”

To combat the problem Aviva has launched www.six-steps.org to engage more consumers in financial planning for the future. The free, unbiased planning resource has been created to help people make informed financial decisions about their retirement. The site takes people through six simple steps towards planning a secure and financial healthy retirement:

Step 1: Take control - make a plan for your future

Step 2: Know yourself – how do you feel about money and taking risks

Step 3: Save little and often – put some money aside every month

Step 4: Invest for the future – build up your long term savings

Step 5: Protect yourself – look after yourself and your money

Step 6: Get advice – speak to a financial adviser

The Economic Secretary to the Treasury, Ed Balls, said: "We want everyone in society to have access to, and use, financial services with confidence. Financial decisions can be difficult. Financial products are complicated and there can be too much jargon. This puts people off, or they can end up buying something that is not right for them. Sometimes people just want to discuss their financial options and not buy anything. We believe there is a gap in the provision of this last type of advice - generic advice - and we are pleased to see Six-steps.org playing a role in this area."

Richard Harvey concludes: “Retirement planning throughout the world is an issue that needs resolving. Globally, we are in a situation where inaction leads to anxiety rather than anxiety leading to action.

“As the population grows, so does the stress placed on state pension schemes. Unless people make a concerted effort to take control of their retirement, by planning effectively, we shall continue to see a worrying trend that will ultimately lead to higher numbers of people struggling to adequately fund their retirement.

“Aviva has launched six-steps.org to enable pre-retirees the opportunity to improve their retirement prognosis by helping them plan for all eventualities. Users are encouraged to set a retirement goal and work towards it to try to alleviate some of the pain that is faced by the current retiring generation.”

For more information please visit www.six-steps.org