Just 10% of advisers would spend whole pension on annuity

The research also found over half of advisers would use their entire pension savings to go directly into income withdrawal, while 38% would use a combination of income withdrawal and an annuity. Their reluctance to embrace annuities for themselves has made advisers more likely to recommend income withdrawal to their clients, with 61% of advisers expecting income withdrawal business to increase over the next year. Nearly a third of advisers surveyed felt income withdrawal is appropriate for over half of their clients, while a further half of advisers believe it suits over a quarter of t...