Aviva warns on later life redundancy threat to pension pots

The warning comes after the government said people must work longer as longevity rises, as reflected in the acceleration of the raising of the state pension age (SPA). However, Aviva said the practice of boosting retirement savings in the last ten years of work may be risky because of the increased chance of illness or redundancy in this period. The insurer's latest Real Retirement Report found 11% of the over-55s had to stop work due to poor health while 15% of respondents were made redundant between 55 and 65. A further 9% said they were forced into early retirement and 8% were u...