This week Legal & General has launched its Midlife MOT: a free, educational course, in partnership with The Open University (OU).
The Midlife MOT is open to everyone, regardless of whether they are one of the insurance and retirement provider’s customers.
It covers three key areas identified by the Department for Work and Pensions (DWP): work, wealth and wellbeing. It has been designed to support those aged 40 to 60 by giving them the tools and knowledge to approach mid and later life with confidence.
It was created by OU’s experts, Martin Upton, Senior Lecturer; Ayesha Peeran, Careers and Employability Consultant and Dr Jitka Vseteckova, Senior Lecturer in the School of Health, Wellbeing and Social Care; and leverages Legal & General’s extensive knowledge on retirement finances.
Filled with videos, quizzes and interactive tools the course is fun and easy to study, and is easily accessible on the the OU's award-winning free learning platform, OpenLearn, whenever it is most convenient for the user.
The course is a timely exercise for many, as today’s midlifers are facing a series of challenges.
More than six million people aged 40 to 60 are currently providing financial support or unpaid care to at least one loved one, on top of their job and other family commitments.
These pressures result in midlifers making personal sacrifices. One in four people in midlife gets less than an hour to themselves in a day and one in five spend no time on improving their financial wellbeing, which could affect their retirement plans.
The impact of Covid, and the cost-of-living crisis has brought these challenges and the need for more support around work, wealth and wellbeing into even sharper focus.
This has been recognised by the DWP which has given a £400,000 funding boost for Midlife MOTs, to help people take stock of their health, skills and wealth as part of later-life planning.
As we live longer with many juggling lots of different responsibilities, it is more important than ever to take the time to reflect on where we are and where we want to be going. The Midlife MOT is a fantastic opportunity for those in midlife to focus on the inter-connected areas of work, wealth and well-being. We were delighted to work with Legal & General to empower people to consider what changes they may need to make to benefit themselves and their families for a better future life.Dr Shraddha Verma
Head of the Department of Accounting and Finance
We know that midlife is a time when many people are facing complex challenges, unique to their age group; wondering about the next stage in their career, juggling support for family members young and old and thinking about how to fund retirement. That’s why at Legal & General, we have created a Midlife MOT course. The positive response to our pilot shows it’s a timely exercise for many and one that will allow those in midlife to have confidence in the next stage of their life.
Many people underestimate what they will need in later life, so education and knowledge are critical to ensure people have the retirement they want. Regular check ins on your current situation will help lay the foundations for your future, which is why it’s so important that those in midlife have this support.Emma Byron
Managing Director, Legal & General Retirement Solutions
OpenLearn is a treasure – helping to build a healthier, fairer, and more environmentally aware society. It has been a learning lifeline for millions, especially through the pandemic. 100 million visitors – wow! I am incredibly proud of the achievement and the work of OU colleagues who make this possible.Martha Lane-Fox
Wednesday, August 17, 2022 - 13:00 to 18:00
St Matthew's Conference Centre, London, SW1P 2BU and Online
Tuesday, August 30, 2022 - 19:00 to 20:00
Online with Student Hub Live