“The rise in State Pension age to 66 is a reminder of the need for everyone to have a plan for their retirement. While it is welcome news that most of us will live longer it also means we need to save more to enable a secure and sustainable future. A key part of this is ensuring that, as people get older, they are celebrated for the experience they bring to a workforce.

“The over 50s are the group who are least likely to regain employment if they lose their job. It is essential, for both society and for individuals that businesses and government work together to value and protect this age group, otherwise they could face a lifetime of poverty in their later years.”

Andy Briggs, Group CEO at Phoenix Group and Government Business Champion for Older Workers

-Ends-

Enquiries

Rachel Esland
PR and Public Affairs Manager
Phoenix Group
07892 705093
Rachel.esland@thephoenixgroup.com

Leonie Garfield
Account Director
Lansons
07530 626 212
leonieg@lansons.com

Notes to editors

About Phoenix Group

Phoenix has become the UK’s largest long-term savings and retirement business following the completion of the ReAssure acquisition and is also the largest consolidator of closed life and pension funds in Europe.

Phoenix has businesses in the UK, Germany and Ireland, split across three key business segments: UK Heritage, UK Open and Europe

The Group specialises in the acquisition and management of closed life insurance and pension funds (its Heritage business).  Phoenix is a leader in the safe and efficient management of UK Heritage business. The UK Heritage segment comprises products that are no longer actively marketed to customers and has been built through the consolidation of over 100 legacy insurance brands

In addition, Phoenix’s UK Open business manufactures and underwrites long-term savings and retirement products to support people saving for their future. These products are actively marketed to new and existing customers, primarily under the Standard Life brand. This segment is underpinned by a strategic partnership with Standard Life Aberdeen following the Phoenix Group’s acquisition of Standard Life Assurance Limited in 2018. Standard Life Assurance is a long-established expert in workplace pensions, personal pensions, long term savings and retirement solutions, and its customers and clients include individual savers and some of the largest employers in the UK, as well as professional advisers. The UK Open business includes a growing BPA business. Phoenix Group also has a market leading brand - SunLife - which sells a range of financial products specifically for the over 50s market. 

The European business spans a range of both Open and Heritage products across three segments: Ireland, Germany and the International Bond in the UK. Our focus is on protecting our existing assets, optimising sales and driving efficiencies, which enables us to maximise value in these businesses and provides a platform for potential future consolidation in Europe.

Phoenix Group is a member of the FTSE 100 index, and has circa 14 million policies and over £300 billion of assets under administration.