Drawdown retirees savers remain reluctant to pay for advice, says Aegon

Its Global Retirement Study found that fewer than one in five (17%) pension savers in the UK identify advice as valuable and even less (9%) would consider paying for advice when converting their retirement savings into an income in retirement. Since pension freedoms were introduced only 28% of UK workers now want to convert all of their savings into an annuity. This is in sharp contrast to their European neighbours, with 47% in the Netherlands preferring this route, 44% in Germany and 42% in Spain. The problem has been compounded by a lack of financial awareness, with less than a q...