Fewer than a quarter of savers plan to buy an annuity; instead, they are likely to rely on the state pension to generate an income stream in retirement, according to research from CoreData.
The research found just more than a fifth (22%) of people planned to buy an annuity, making it the least popular product for those polled. It also found the most popular way for people to generate an income stream in retirement was through the state pension, cited by more than two-thirds (67%) of respondents. CoreData had polled more than 500 people to find out how non-retired retail investors planned to generate an income in retirement. Two-fifths (40%) of those surveyed said personal saving such as cash ISAs, current accounts and saving accounts would generate retirement income...
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