M&G has launched a campaign aimed at challenging outdated stereotypes surrounding retirement and encourage a more proactive approach to later life planning.
The initiative seeks to change the narrative about retirement, moving away from tired, unrealistic portrayals to better reflect how people are truly living in their later years.
Anusha Mittal, managing director of individual Life at M&G, emphasised the importance of reframing the conversation around later life.
She said: “The way later life is currently being portrayed is not realistic, aspirational, or reflective of how people are now living. Our research shows that the reality of later life today is radically different from previous decades, and how people are enjoying their later years is being misrepresented.”
The campaign was born from M&G’s research, which found that many people avoid planning for retirement because they cannot relate to the conventional depictions of this stage of life.
Research revealed nearly three in five respondents (58%) find the way retirement is depicted “uninspiring” and 55% said current portrayals do not reflect the life they wish to lead.
Therefore, M&G aims to shift this perception by presenting a more vibrant and active view of later life.
Mittal continued, “If we don’t begin to positively reframe this chapter of life, the risk is that more people will continue to avoid planning for retirement, and the ‘too little, too late’ generation will continue to grow. We need to break the cycle, have a cultural reset, change the conversation, and inspire people to plan for the future.”
The campaign also highlights the importance of building financial confidence. Mittal added, “We need to give people greater financial confidence to put their money to work. This involves setting a clear road map for the future of auto-enrolment, providing greater education on pensions and savings, and making financial advice more accessible.”
To illustrate this new perspective, M&G has released two sets of imagery. The first features an AI-generated image representing a stereotypical view of retirement in the UK, showing a passive and outdated vision of later life.
In contrast, the second set includes a photography series depicting active retirees engaging in a range of hobbies, from running to learning new skills.
One standout example in the series is 62-year-old Paul, a semi-retired illustrator and lifelong runner. His active lifestyle challenges the traditional image of retirement and serves as a reminder that later life can be full of opportunities for growth and fulfilment.
The launch of this campaign comes in response to findings from M&G’s research, which also identified barriers to retirement planning, such as affordability and a lack of knowledge. Many participants feel that the current portrayals of retirement are unrelatable, and as a result, 72% believe that retirement should be depicted in a more accessible and inspiring way.
M&G’s initiative aims to not only alter how retirement is perceived but also to help people feel more empowered in making financial decisions.
By combining positive representations of later life with actionable financial advice, M&G hopes to inspire a shift in how people approach planning for the future.