It seems the long-standing 'shop around for annuities' message has failed to hit home with Aviva opting to tackle the issue head on with the launch of television and press adverts focusing on the Open Market Option (OMO).

The step up in advertising has been prompted by estimates from the group that UK retirees could boost their retirement income by up to ten per cent by shopping around, yet only 37 per cent of annuities are taken out following use of the OMO.

"When devising this campaign we worked extremely closely with people approaching, and in, retirement to truly understand their wants and needs," commented Gary Pepler, marketing, brand and communications director for UK Life, Aviva. "We discovered that while most new retirees love the freedom that retirement affords, there are still concerns over managing money.

"Our latest advertisement series is just one of the ways in which we are addressing the concerns of today's retirees."

Pepler added: "It is vital that people make best use of the full value of their assets, whether these are pensions, property or savings. By taking control of retirement planning sooner rather than later and by seeking sound financial advice, we can help to alleviate people's fears and prepare them for the retirement they deserve."

The advertisements can already be seen on UK TV.

- Pensions Age July 2009

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