UniCredit report calls for redesign of personal finance due to longevity

A report titled ‘The Future of Personal Finance’, produced by UniCredit in collaboration with the UK-based National Innovation Centre for Ageing, highlights the need to redesign financial services to accommodate increasing global life expectancy, which has reached 73.5 years.

The study suggests that traditional financial models, which assume linear career paths and stable life stages, are becoming obsolete. Modern lives are increasingly characterized by non-linear trajectories, including career breaks, retraining, and variable incomes. The report notes that approximately 40% of people experience financial instability following unplanned career interruptions.

To address these shifts, the report advocates for flexible, modular financial solutions that combine digital self-service with human assistance. It also emphasizes the importance of addressing financial literacy, noting that only 34% of adults in OECD countries have reached minimum literacy levels, and highlights that 16.2% of the EU population faces risks of poverty or social exclusion.