'Concerning' rise in non-advised decumulation sales

40% in 2021

Ayesha Venkataraman
clock • 2 min read

The overall number and proportion of non-advised decumulation sales are rising steadily, with 40% of decumulation products purchased without regulated advice in 2021, according to research by retirement specialist Just Group.

Just Group's analysis of product sales data from the Financial Conduct Authority (FCA) pointed to a trend of fewer pension savers taking advice when buying income drawdown and guaranteed income for life solutions. Out of the 262,261 decumulation products bought in 2021, Just Group found that 104,774, or 40% were purchased without professional, regulated advice, which was the highest number of sales of non-advised decumulation solutions since the pension freedoms legislation in 2015, it said. The analysis also found that non-advised purchases have been trending higher from a low of one...

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

Triple lock played 'important role' but it would 'always need to end'

Triple lock played 'important role' but it would 'always need to end'

Pensions industry reacts to triple lock change

Holly Roach
clock 30 September 2026 • 4 min read
Triple lock changes welcome but 'cannot solve' national care problem

Triple lock changes welcome but 'cannot solve' national care problem

‘The sooner the government comes clean on these plans the better’

Sophia Panayi
clock 30 September 2026 • 6 min read
'The interesting thing about Burnham's triple-lock plan isn't the triple lock'

'The interesting thing about Burnham's triple-lock plan isn't the triple lock'

'Look past the mechanism and something more interesting is happening'

Tony Müdd
clock 30 September 2026 • 5 min read