View more on these topics

Aviva questions ‘commercial benefit’ of investing in financial education

Provider says it must balance its social responsibility with its responsibility to shareholders.

Aviva has questioned whether investing in financial education delivers sufficient “commercial benefit” to make it worthwhile.

Speaking at the Personal Finance Society annual conference in Birmingham last week, Aviva UK life retail and partnerships director Andy Curran said the provider must balance its social responsibility with its responsibility to its shareholders.

He said: “The weakness of investing in financial education is, we need to get a commercial benefit, and we need to get a commercial benefit reasonably quickly.

“We do take our responsibilities as one of the largest insurers in the UK very seriously. We believe we have a social responsibility and a responsibility to the industry, but equally we have a responsibility to our shareholders.”

Financial education will form part of the national curriculum in September 2014. Key stage 3 will cover the uses of money, budgeting and financial products, while key stage 4 will cover wages, taxes, credit, debt, financial risk and more sophisticated financial products.

In 2010 the charity Personal Finance Education Group had its central Government funding removed and had to make 75 per cent of its staff redundant.



Case Study: Rebroking options for old equity release plans

The problem: My client took out a lifetime mortgage 12 years ago and with rates having fallen during that time they are interested in moving to either a cheaper rate or a reversion plan. However, they are concerned whether this is worth it with the early repayment charge plus they would now like to release […]


House prices set to increase 24% in five years

Knight Frank is predicting that house prices will increase by 24 per cent in the next five years. In its UK housing market forecast for Q4 2013, published today, Knight Frank is predicting house price growth of 7 per cent both this year and again in 2014. It predicts price growth will slow to 4 […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment