Three in four advisers believe their clients would consider US-style annuities ahead of traditional annuities, but many fear they do not know enough about the products available.
According to research commissioned by Lincoln Financial Group, which offers life assurance, pensions and unit trusts, 74% of advisers think their customers would welcome the choice of US-style annuities when considering retirement income plans, with only 5% saying clients would not consider them. However, 46% of advisers polled felt that the complexity of the products was a major weakness, and another 46% thought they produce lower incomes compared to traditional annuities and drawdown products. Lincoln Financial commissioned the research as it enters the UK retirement market with the lau...
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