The latest figures on retirement income from the Financial Conduct Authority (FCA) raise concerns about the long-term sustainability of pension payments, according to Just Group group communications director Stephen Lowe.
The figures, released on Tuesday (29 September), showed a 3.3% rise in the number of pensions being accessed for the first time and a 5.1% rise in the number being fully withdrawn. Of the 673,831 pensions...
Only one in ten opt for an annuity
‘Dramatic’ drop due to pandemic’s economic impact
Coming soon to a provider near you
'Act or be compelled to act'
Drawdown retirees forced to reduce income during the early stages of the pandemic are now considering the best way to turn the taps back on, writes Steve Hunter
Shifting the narrative to support equality
Loans at up to 16%
For a long time, the road to retirement followed a familiar path. Individuals saved up for a pension during their working life in order to retire at a set age; usually around 65. This path has shifted, however.
Completes legal process