M&G Campaign Reframes the Retirement Reality Gap

Snapshot: A growing divide between perception and reality is leaving millions unprepared for retirement, with financial insecurity worsening across both the U.S. and the UK.

In the U.S., research from NCOA and the LeadingAge LTSS Center @UMass Boston found that 80% of older adults—representing 47 million households—are financially vulnerable, and nearly 50% of adults over 60 live below the Elder Index standard for economic security.

Meanwhile, in the UK, research by M&G wealth highlights a different but related challenge: a widespread reluctance to plan for retirement due in part to uninspiring and outdated portrayals of later life. The M&G study found that 72% of non-retired people believe the way retirement is depicted does not reflect the life they want, and 62% say they won’t start financial planning until after 40—potentially leaving them underprepared.

Both studies point to a critical issue: people are not saving enough for retirement, and many fail to recognize the financial risks they may face. Rising inflation, increasing healthcare costs, and the decline of traditional pension security have created a future where many will struggle to afford long-term care or even basic living expenses.

M&G has launched a national campaign to tackle this issue head-on by reshaping the way people think about retirement. M&G’s efforts highlight how financial brands can take a proactive role in reshaping consumer behavior and addressing widespread financial insecurity. With millions at risk of retiring without sufficient savings, changing the narrative around retirement may be a crucial step toward bridging the growing gap between expectation and reality.

Key quote: “The way later life is currently being portrayed is not realistic, aspirational, or reflective of how people are now living. If we don’t begin to positively reframe this chapter of life, more people will continue to avoid planning for retirement, and the ‘too little, too late’ generation will continue to grow.” Anusha Mittal, Managing Director of Individual Life, M&G Wealth

Full story: M&G press release - M&G Retirement Unleashed - NCOA