'Back to the drawing board': Decumulation guidance not working

Pre-retirement guidance demand

James Phillips
clock • 2 min read

Three-quarters of pension scheme members want guidance before drawing down on their pension pot but current client options are "not working", according to The People’s Pension.

In a poll of 2,116 adults carried out by YouGov between 12 and 15 February, nearly four in ten told the master trust that they would be prepared to be guided towards a hybrid decumulation product, using both a guaranteed regular income and a flexible income pot, after having taken a lump sum. Another 35% opted for an annuity and lump sum option. The findings follow on from the provider's New Choices, Big Decisions report, published in January with State Street Global Advisors and Ignition House, which found that many savers were "sleepwalking into retirement", with their pension running ...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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