The oldest age group, aged 75 and over, is showing the fastest acceleration in usage across all age groups – more than doubling from 20% in 2011 to 44% today. By 2020, Aviva estimates that a majority of all age groups will be regular internet users.
The love for the internet is strongest in the UK
Aviva research has also found that UK consumers are the most comfortable making financial transactions online. Three in five (60%) agree with this sentiment, and only 11% disagree. This is the strongest across 10 leading Aviva markets:
I am comfortable making financial transactions online (% agree):
1. UK: 60%
2. Ireland: 56%
3. Canada: 55%
4. USA 54%
5. Singapore: 48%
6. Turkey: 48%
7. Poland: 44%
8. France: 39%
9. China: 39%
10. Italy: 36%
For those aged 25 to 55 in the UK, Aviva’s research finds the internet to be the first port of call for financial information. For those aged 18 to 24, friends and family beat the internet into second place. And for those aged 55 and over probably starting to think about retirement – and perhaps with the greatest accumulated wealth – a financial adviser is our preferred source of information.
Commenting on today’s data, Alistair McQueen, Head of Savings & Retirement at Aviva said: “In the UK, we’re all embracing the internet, and we’re embracing it more strongly than many other leading economies.
“UK workers are increasingly turning to the internet for help and guidance with their money. Pension providers must respond to this growing internet usage, which has the potential to completely transform how we engage and manage our pensions.
“Aviva is continuing to develop digital solutions for its pension customers. Our online “My Aviva” service allows our customers to monitor their products whenever and wherever they want. More than 5 million customers have so far registered for the free service, helping them to take greater control over their financial futures.”
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