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The Second 50

People are living longer and with it they're leading very different lifestyles. Take a look at how the changing landscape is impacting retirement advice.

The traditional ‘three-stage’ life typically follows the pattern of education, work and retirement. But as 100-year lifespans become more common, is this still a realistic blueprint for modern living?1

At Aegon, we're exploring life after 50, or what we're calling the Second 50. Find resources to help you discover the changing nature of later life and its many advice opportunities available to your clients.

  1. Providing financial advice in a shifting landscape
  2. The Five Fundamentals to shape your advice
  3. Client support resources
  4. Industry reports and supporting client's retirement objectives

Second 50 report 2024: Navigating a multi-stage life

We're on average living longer, and with the gift of more time this allows many of us to live more varied multi-stage lives. To help you support clients in navigating the UK’s ever-evolving later-life landscape, we’ve combined the latest national statistics with our own research for a comprehensive view of the Second 50 – the latter half of a longer and more varied life.

Read our Second 50 report and claim 30 minutes of CPD time

Key themes and findings

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According to official population projections, there could be 22.1 million people in the UK aged 65 and over – equal to 27% of the population – by the year 2072.2 

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Our Second 50 research shows 'Declining physical health' (45%) and 'Running out of money' (44%) are top three later life concern for those surveyed.3

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Multiple complex pathways could result in individuals feeling overwhelmed.

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Our research also found that only 28% of respondents currently in employment expect a 'hard stop' retirement (giving up working at once).3

Providing financial advice in a shifting landscape 

We've carried out research into the multi-stage life and what we're calling the Second 50. You'll find our report which you can claim 30 minutes of CPD time for reading, a recent webinar that you can claim 45 minutes of CPD for watching and an article exploring the advice requirements. 

The Second 50: Navigating a multi-stage life

In our report, we outline how past trends in retirement are no longer a reliable guide to the future. The report looks at our research alongside the latest available UK national statistics to help identify the ways in which life after 50 will differ.

Preparing your clients for a 100-year life webinar

Steven Cameron, Pensions Director, and Dr Thomas Mathar, from our Centre for Behavioural Research, walk through the impacts of a multi-stage life and strategies to help support your clients with the opportunities their Second 50 can bring.

  • Article
  • 6 min read

How a multi-stage life could shape your clients’ advice needs

Find out how an evolving multi-stage life could shape your clients' advice needs in the future.

The five fundamentals to help shape your advice

A multi-stage life is changing the way we approach retirement. We've broken down our research into five fundamentals to shape your advice and help guide your clients through the Second 50. 

Work Second 50 fundamental

Work - living longer, working longer?

Wealth Second 50 fundamental

Wealth - will finances cover clients?

Family Second 50 fundamental

Family - who is caring for family? 

Health Second 50 fundamental

Health - is an active lifestyle being led? 

Wellbeing Second 50 fundamental

Wellbeing - are clients enjoying what they do?

Five fundamentals of Second 50 diagram

Client support

Our Five Fundamentals help capture the essence of what our Second 50 research is all about. Here you'll find resources to share with your clients. 

Planning for retirement - are you prepared for a multi-stage life?

In this client guide, we present the key findings from our Second 50 research and give your clients an insight into considerations when planning for retirement objectives.

Could you live to 100? What the ‘Second 50’ means for you

Sharing research from our Second 50, in this article we explore what this could mean for your clients.

A guide to creating your 100-year financial life plan

While living longer is positive, it does come with challenges as well as opportunities. In this article we share some tips to making sure clients finances are a source of long-term support.

Industry reports and supporting client's retirement objectives

Consumer Duty hub

Keep up to date with the latest Consumer Duty news and access resources to help you understand the new rules, what they mean for you and your business and next steps.

Financial wellbeing

With us living longer and facing a very different retirement landscape, becoming a Wellbeing Maximiser could benefit your business and your clients. On our Financial wellbeing hub you'll find a range of support from our video series taking a look at 100-year life, through to our Financial wellbeing index research

Adviser Home: Retirement income advice report

This report contains useful information on topics including an overview of the retirement income market, other sources of insight and key regulatory events.

Managing lifetime wealth - retirement advice in the UK

The sixth edition of our retirement advice trends report in partnership with Nextwealth is available now. Keep up to date with the latest trends shaping the retirement industry.

Tools and calculators

Take a look at our tools designed to help support you when it comes to helping your clients plan for retirement income needs with our retirement income calculator and our retirement needs calculator.

  1. The 100-year life: Living and working in an age of longevity, Data Source, Lynda Gatton and Andrew Scott, Bloomsbury 2016
  2. The UK’s changing population. Data source, House of Commons Library, published 16 July 2024.
  3. Second 50 report -  Our new survey of 900 UK workers and 100 retired UK residents is the foundation of this second edition of our Second 50 report, complementing 12 years of research we’ve undertaken in the UK. Unless otherwise stated, the research referred to throughout this guide was conducted by Aegon in July 2024, in a study nationally representative of UK age, gender and regions.

Consolidation toolkit

Over our working lives we can accumulate multiple pension products. As clients approach retirement, this represents an opportunity to consider consolidating and bringing these together. Our consolidation hub has a range of supporting guides. 

Explore our Consolidation toolkit