Almost 90% of IFAs believe there needs to be product innovation in the retirement planning market to take into account increasing longevity, claims Lincoln Financial.
A survey of 107 advisers, carried out by George Street Research on behalf of Lincoln Financial Group, reveals 89% of IFAs think the current range of retirement planning products should be expanded. Recent figures from the Office of National Statistics (ONS) show a 65-year-old man can now expect to live a further 16.6 years while a 65-year-old woman can expect a further 19.4 years of life. Life expectancy at 65 has increased by 3.7 years for men and 2.5 years for women since 1980-82. Lincoln Financial Group is warning increased longevity is placing further strain on retirement income p...
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