They say that if you want to look for the source of power, follow themoney. And thats what the financial industry has done for the last20 years followed the money that the baby boomers haveaccumulated during their extraordinary lives.

Were not complaining. Its worked great for us and them. But thispreoccupation has led us to neglect a generation that will be almostthe same size as the boomers and in the next decade will more thandouble their representation in the workplace. 28 to 40 year-olds areone of the most diverse and fragmented of all generations with amindset and attitude entirely their own. They are the Re-RunGeneration whove grown up in a culture that cant look to the futureand finds comfort in the near past.

Theyre opting out. Theyre hoping for the best. Theyre rationalisingon their feet, and as well see in this report, many of them are trustingto fate. But deep down they know that this wont wash. These aresmart, educated, savvy people who know they arent doing what theyshould be to secure their future.

This generation has it tough. The accidental accrual of valuablefinal salary pensions is ancient history. Inheritances are less certainthan they were as third agers live for today (or face the stark realityof long-term care). Providing for their future is up to them. Yet theyare not interested in pensions which relate to a future they cantimagine, let alone save for. Pensions are far money, more like a taxthan savings.

Simply put, the financial services industry has failed to challenge orsupport this generation. Standard Life want to put that right not justbecause its the right thing to do but also because this generation arethe boomer generation of tomorrow. They are where the money and thepower will be but only if someone can help them get on the road.

Thats why were launching the active money personal pension(AMPP), designed specifically to fit the way this generation want tolive and save. AMPP is part of the active money lifeplan, aninterconnected suite of pension vehicles designed to flex and grow aslives go on and needs change.

Our industry is renowned for finding something it wants to sell andtrying to force it down peoples throats. AMPP started with aconversation with customers and grew from there. Its inside-outfinancial services and we hope its a good first step for the Re-Runners.

Each generation gets to remake the world in their own image. Thebaby boomers have had it their way for a long time. The Re-Runnersare just getting started. Its going to be an exciting time.

Mark PolsonHead of CustomerManagement at

Standard Life

Re Run Generation Report

Nostalgia is now. Its neverbeen more fashionable or morefun to revel in the recent past.Music, fashion, film andtelevision are all raiding theattic for ideas. We could takeour retro obsession as far asbringing back another Torygovernment.

Prequel follows sequel followsremake follows reimagining aswe extend the culture of ourchildhood and teens into ouradult lives. But why? And atwhat cost?

The Re-Run Generation is 28-40, theyre no longer youngbut not yet old. They are, orwant to be, forever youthful.They are Peter Pans whospend more time and moneylooking and feeling youngerthan their parents or

grandparents. For them40 is the new 30. I say

they but Im 33 andjust as guilty as my

peers of lookingover my shoulder

sighing for the past.And why not?

The credit-crunched eco-apocalyptic terror-tastic timeswe live in are, basically, notfun. We grew up with goodtimes or at least the promise ofthem. New Labour. CoolBritannia. Post-Kyoto.Optimism was the order of ourday. We hark back becausethe present is so relentlesslypessimistic. Perhaps we thinkthat by reliving good times wecan bring them back?

Yet the future, howeveruncertain, is inevitable. The

Standard Life research showswe know were going to growolder and live longer thanprevious generations. Wedont even think the State willgive us much help. Yet still, wedevote endless time, moneyand energy extending ouryouth. By making the past somuch a part of the present werisk making our future riskierstill. Nostalgia threatens tospiral into narcissism, anendless loop of re-runs.

There is little more boring orstressful than financialplanning. Especially asfinancial products seems to bemade with another, morestable, generation in mind.Re-Runners are moreinterested in what moneyenables us to do with ourincreasingly flexiblefragmented lives and careers.Thanks to student loans, weare a generation skilled atjuggling debts. Final salarypensions, where employers payinto a pot for your futureretirement, are as much athing of the past as freeuniversity education.

Financial products finallyseem to be catching up withthe new financial realities ofthe Re-Run Generation. Weare the market now and theindustry seems to beresponding to our unique andchallenging needs. So nowwe must split our focusbetween paying off the pastand planning for the future.

Damian BarrAuthor and journalist

Re Run Generation Report

The Cultural Context

Nostalgia rules UK

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Re Run Generation Report

What was the most recent film you saw? Chocolate you bought?Fashion trend you noticed? Or friend you spoke to on Facebook?If it was Star Trek, a Wispa, shoulder pads or school friend thendont fear you are entirely typical of someone who lived throughthe noughties.

More than any other decade, the lastwas about retro. Brands we knew fromchildhood were back on the shelves.Cartoons wed loved became topgrossing films and pop groups wedconsigned to history triumphantlyreturned to Wembley. Even wearingyour school uniform out on a Fridaynight became (momentarily) cool as werushed to get to School Disco.

In no small part, Facebook and othersocial media networks were to blame.Being able to track down Barry fromClass 5 at junior school and finding outwhat he did last night was the new(work) pastime. Sharing embarrassingphotos from your childhood, joiningageing pop groups fan sites, the pasthas never been as now.

At London Fashion Weekone in five designers citeda retro influence in their2010 Autumn/Wintercollection or overall design.

Almost half of the top tengrossing films in 2008 and2009 were remakes.

Film versions of thecartoon Yogi Bear andseries The A Team areamongst blockbustersplanned for 2010.

One in five of UK TVchannels predominantlybroadcasts re-runs from the70s, 80s and 90s .

128 major bands reformedin 2007-2009 with one inthree of those who reformedhaving a number 1 hit .

Bands included Faith NoMore, New Kids on theBlock, Take That, Blur,Spice Girls, All Saints,James, The Verve, ThePolice and Led Zeppelin.

In Campaign Magazinesreview of advertising in thenoughties, 1 in 5 of the topten adverts for TV/cinema,press and posters had aretro theme.

Re Run Generation Report

The Re-Run Generation

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The latest study from Standard Life considers the impact nostalgia has had onthose aged 28 to 40 who became adults in the nineties and noughties. Itfound the nostalgia paradigm has played into the emotional weaknesses ofthis age group, encouraging people to look to the past rather than their future.

This age group is far more likely to be fascinated by things from their youth, feelhappiest when they think about being young (and anxious about growing up)and love the return of retro. They in effect are the Re-Run Generation.

Re-Runners are not unrealistic about the future, they know how long theyare likely to live and even how long they are likely to be in retirement. But,they dont plan for what they know. Around a third (29%) even believe thattheir financial future could be secured by fate. And this is a problem. Justover a third (34%) of those in this age group think they will spend 20 yearsin retirement suggesting they may need to safeguard their future need toreality check their finances. To help, Standard Life has launched the activemoney personal pension, specifically designed to meet the needs of the Re-Run Generation. For more information including tips and tools on planningfor your financial future go to www.getarealitycheck.co.uk

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Three in five (59%)Think their generation is fascinated with things from their youth,which raises to 67%* of those who are anxious about growing up.

(*47% agree and 20% strongly agree)

Sixty two percentThink they will live into their 70s and 80s and 84%* know theycannot expect the state to support them in their retirement

(*36% said they know they cannot rely on the state at all and 48%said they would like to, but know that they have to make their ownplans)

Fifty percentAgree with that my generation is nostalgic because youth was agreat time and we now find ourselves struggling to meetexpectations

One in three (33%)feels anxious or scared about growing up and getting older andtwo in five (40%) feel other people their age have done morethan them by now

Four out of five (82%)like or love the fact that retro brands from their youth aremaking a comeback (69% like this and 13% love it). Which goesup to 86%* if they are also anxious about getting older

(*71% like it and 15% love it)

Two thirds (67%)plan 15 years or less ahead for their finances (the minimum agethat this generation will typically retire at is 67) (Source: ONS,2008). Just under one in three (29%)* believe fate will play a partin securing their financial future

(*23% agree and 5% strongly agree)

* All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2064 adults of which 475 were aged 28-40 years old . Fieldwork was undertakenbetween 30 December - 4 January 2010. The survey was carried out online. The figures have beenweighted and are representative of all GB adults (aged 18+).

Re Run Generation Report

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Re Run Generation Report

Speak soon.Case studies are available on request. For more information on the active money lifeplan or if there isanything more about Standard Life we can help you with, please call us.

Media Contacts

Paul Keeble Lucy Coyleemail paul_keeble@standardlife.com lucy_coyle@standardlife.com

land 0207 872 4481 0131 245 8958

mobile 0771 248 6387 0773 497 4252

Standard Life Assurance Limited, registered in Scotland (SC286833), Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH,authorised and regulated by the Financial Services Authority. 0131 225 2552. Calls may be recorded/monitored. www.standardlife.co.uk

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