'Retirement riddle' impacting on retirees' health and wellbeing - L&G

UK's poorest retirees most affected

Sophie King
clock • 1 min read

Older people are facing an income 'riddle' that is leaving them more dissatisfied and depressed in retirement, according to research conducted by Legal & General and Demos.

The research showed that thousands of people potentially choosing options - or defaulting into arrangements - that are increasing their likelihood of feeling depressed in later life or unable to plan for the future. L&G Retail Retirement Income managing director Emma Byron said retirement had entered a new age and that the days of "carriage clocks and gold-plated pensions" were over. The biggest impact was on Britain's poorest half of retirees, the research suggested. Of those with modest or poor incomes who were invested in an income drawdown arrangement, L&G found, one-fifth (19%) s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Tony Müdd: The QROPS market is dead, isn't it?

Tony Müdd: The QROPS market is dead, isn't it?

'The tax a member pays on their QROPS income hinges on a dizzying array of factors'

Tony Müdd
clock 11 August 2025 • 11 min read
Average pension transfer times fall

Average pension transfer times fall

Origo data suggests simpler pension transfers average 10.8 days

Martin Richmond
clock 11 August 2025 • 2 min read
Why commercial property is much more than a self-invested pension asset

Why commercial property is much more than a self-invested pension asset

'It's perfectly understandable that clients can become emotionally invested in a commercial property'

Caitlin Southall
clock 08 August 2025 • 4 min read