In a world where planning for the future is more crucial than ever, the government’s concept of a “Mid-life MOT” is a good one.
But while the idea holds significant potential, its success remains limited.
Since its inception in 2017, it is believed less than 50,000 people have taken a ‘Mid-life MOT.’
When you compare that figure to the number of cars on our road that have MOTs (somewhere around 9.3 million) you have to ask ‘are the government seriously committed to the Mid-Life MOT?’
And if they are committed to it, are they doing enough to popularise and institutionalise the concept in our workplaces?
The concept of the Mid-life MOT was first proposed by Sir John Cridland (ex CEO of CBI) in his independent review of the state pension age, published in 2017. Cridland highlighted the need for a comprehensive review for people in their mid-life, combining health checks with financial and career planning to help individuals prepare for their later years.
And whilst the new labour government have not expressed an intention to scrap the MOT, they don’t seem to have any plans to develop it either.
Following Cridland’s recommendations in 2017, several prominent organizations, including Phoenix, Aviva, Legal & General, the Pensions Advisory Service, and Mercer, took up the challenge to support the concept.
They developed and tested various delivery methods for the Mid-life MOT, including workshops, one-on-one support, and online platforms.
The initiative gained further support from the UK government, which integrated it into the Department for Work and Pensions’ strategy to enhance financial, health, and career guidance (Gov.uk) (PublicTechnology)
In 2003 the government put further resource behind developing the concept launching a Mid Life MOT.
Financial Preparedness: One of the standout benefits of the Mid-life MOT is its focus on financial planning. With an increasing number of people facing the prospect of insufficient retirement income, the MOT helps individuals reassess their pension plans, understand their financial standing, and take necessary steps to secure their future (Your Money)
Health Awareness: The program’s holistic approach includes health assessments, which encourage participants to be more mindful of their health. This proactive stance can lead to better health outcomes, helping individuals maintain their wellbeing and work capacity for longer (moneyweekuk).
Career re-assesment. By offering guidance on career progression and development, the Mid-life MOT supports individuals in exploring new career paths and acquiring new skills. This is particularly beneficial for those looking to extend their working life or transition into new roles, ensuring they remain competitive in the job market (moneyweekuk).
Several companies have recognized the value of the Mid-life MOT and have implemented their versions of the program to support their employees, but the fact remains that the concept remains relatively unknown.
For example the Phoenix Group has been proactive in offering the Mid-life MOT to its employees. Their program includes digital self-assessment tools and workshops focused on health and wellbeing, financial planning, and career development.
The pilot program involved 324 employees and found that peer-to-peer interactions were especially beneficial. Participants appreciated the holistic approach to retirement planning, emphasizing the importance of health, social networks, and relationships alongside finances (The Behavioural Insights Team).
When the Mid-Life MOT was launched, Andy Briggs, CEO of the Phoenix Group and older workers champion for the Government, observed:
“The introduction of an enhanced digital MOT, that’s open to all, is welcome news and, with a focus on work, wealth and wellbeing, it will be an essential tool in helping people make the most of their longer lives. So much so, that Phoenix Group has piloted its own version of the midlife MOT which will be rolled out to colleagues in the coming months.”
“The desire to stay in meaningful work for longer is already important to many people. More experienced, older workers offer a wealth of knowledge but are often written-off or overlooked for no good reason. Age is no barrier to learning and I encourage businesses to invest for all, to enjoy the benefits of greater retention and more skilled employees.”
Meanwhile PeoplePlus has supported over 160 employees and 30 employers in the Northeast of England. Their comprehensive support includes financial guidance, health assessments, and wellbeing advice, demonstrating the program’s practical benefits in various aspects of life planning PeoplePlus.
Like Phoenix Aviva and Legal & General have recognised th evalue of the initiative. Both companies have developed and tested Mid-life MOTs with their employees that include workshops and online tools focusing on financial, career, and health planning.
These initiatives highlight the holistic approach of the MOT, emphasizing the interconnectedness of work, wealth, and wellbeing (Ageing Better) (Business in the Community).
Despite its clear benefits, the Mid-life MOT has not yet achieved widespread adoption. Several factors contribute to this. Many people in the 40-60 year old target demographic are simply unaware of the program’s existence. The government and supporting organizations are working to increase visibility, but more effort is needed to ensure broader awareness and participation (Your Money).
Accessibility: Although the MOT is available through various channels, including online platforms and Jobcentres, ensuring that it reaches the intended audience remains a challenge. As of the most recent data, the Mid-life MOT has been delivered to over 8,000 people annually via Jobcentres, Money Week (Personnel Today).
Engagement: Initial feedback suggests that while the MOT is beneficial, it should not be a one-off event. Continuous engagement, follow-ups, and practical outputs are essential to maintain its effectiveness and help participants fully realize its benefits Money Week.
The UK government and various organizations are committed to expanding and enhancing the Mid-life MOT. This includes integrating the MOT into more support services, providing it through various delivery methods (online, face-to-face, workshops), and ensuring it is tailored to meet the diverse needs of the workforce (Yorkshire Times) (Personnel Today).
The Mid-life MOT represents a forward-thinking approach to preparing for later life. Its focus on financial planning, health awareness, and career development makes it an invaluable tool for individuals in their mid-life.
However, increasing its reach and adoption is crucial to maximizing its impact.
As awareness grows and accessibility improves, more people can benefit from this innovative program, ensuring a more secure and well-planned future.
The potential of the Mid-life MOT is clear. Now, the challenge is to make sure that more people have the opportunity to hear about it and take advantage of its benefits.
The scheme needs proper marketing, integration into our work culture, a reskilling and upskilling culture built alongside, and probably a few government ‘sticks and carrots’ for employees and companies that support the scheme.
If 9.3 million people can get their cars MOT’d ever year, shouldn’t we take the ‘road worthiness’ of our own health, finances and careers as seriously?
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