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Preparing for a successful retirement requires focus on good financial habits, and a healthy lifestyle.
However, there is an alarming disconnect between people's good intentions and their actions, according to a global report by the Aegon Center for Longevity and Retirement (ACLR).
"We have been conducting research on people's attitudes and readiness for retirement since 2012. Our research shows that people hope for an active retirement where they stay socially connected, involved in their communities and to continue to work in some capacity," said Mike Mansfield, Manager Retirement research at the ACLR. "An interesting finding is that workers who engage in multiple healthy activities, like exercising regularly or eating a healthy diet, are more ready for retirement than those who do not. Finding ways to develop good savings habits and maintain a healthy lifestyle from an early age are key factors for a successful retirement. Individuals, employers, the retirement industry, and governments, all have a role to play in promoting healthy aging and long-term financial security."
Aegon Insights is assessing what the ACLR's findings mean for the Asia-Pacific market. "It all starts with awareness," said Amy Cheung, Marketing Director, Aegon Insights. "We are now exploring how we can apply the ACRL findings on attitudes to retirement into the design of the customer journey. As part of the insurance industry here in Asia, we have a responsibility to continue testing, learning and rolling out a more customer centric approach on planning for future needs."
Key findings from the Successful Retirement – Healthy Aging and Financial Security report include:
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In 2017, the global Aegon Retirement Readiness Index reached 5.92. While still a 'low level' of preparedness, it represents a slight improvement since 2016. The report, the result of Aegon's sixth Annual Retirement Readiness Survey, draws on findings from workers and retirees from 15 countries spanning Europe, the Americas, Asia, and Australia.
The new report is a joint effort of the Aegon Center for Longevity and Retirement, and nonprofits Transamerica Center for Retirement Studies and Instituto de Longevidade Mongeral Aegon.
Aegon is proud to be a bronze sponsor of the OECD Forum 2017 and shared key findings from this report in Paris on June 6.
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