Midlife MOTs for finances

financial MOTs for people hitting midlife
financial MOTs for people hitting midlife

It is clear from the pandemic that many people’s lives have changed from their housing and work situation, to new babies or sadly lost family members. A number of people are reviewing their situations, some wanting more work, others hoping to work from home and all seeking to boost their resilience for the future.

For this reason the Government has put forward funding so that ten organisations can develop and trial locally-led ‘mid life MOTs’ to help people identify the skills they ned for the job journeys the y want, to boost financial resilience and think more carefully about pensions and retirement.

Minister for Pensions and Financial Inclusion, Guy Opperman, said:

It’s no secret I am a huge fan of this idea. While we started work on this before the pandemic, the last twelve months have bought people’s financial resilience into sharp focus – making a mid-life MOT a timely exercise for many. And it’s not just about retirement savings, but also about enabling people to enjoy a fuller working life by helping them understand the skills they will need to learn along the way.

Guy Opperman who has reached midlife himself and has found himself reviewing his career in the past having had some major health issues knows this kind of help could support many. It is hoped if the trials go well that the scheme can be expanded to include more support including dedicated career, health and pension planning.

A ‘great reset’ of a different kind for the people looking to make changes in their lives.

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