Risk averse pre-retirees rule out annuities due to 'vague understanding'

Just one in ten UK adults aged over 50 are willing to risk their money

Sahar Nazir
clock • 1 min read

An estimated 19 million UK adults aged 50+ may be overlooking annuities, according to research released today (28 June) by the Financial Services Compensation Scheme.

More than one-third (37%) of respondents are unwilling to take risks with their money saying they are worried about not having enough money to last the duration of their retirement, while more than half (58%) said they have a vague or no understanding of annuities. Just under a third (28%) have an annuity or would consider buying one. One in ten (10%) are willing to take risks with their money. Nearly one-third of people said they are uncertain if annuities are right for them (29%), while 26% said they are fearful of their provider going bust (26%). A quarter of respondents do not und...

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 Your profession

Protecting the vulnerable: Why economic abuse belongs on every firm's agenda

Protecting the vulnerable: Why economic abuse belongs on every firm's agenda

'Economic abuse thrives in silence'

Alexandra Roberts
clock 07 January 2026 • 5 min read
Verso Group acquires Midlands-based Chartered financial planning firm

Verso Group acquires Midlands-based Chartered financial planning firm

Everlong Wealth Limited has a team of 12

Sahar Nazir
clock 07 January 2026 • 1 min read
Government policy tops adviser concerns as firms focus on client retention

Government policy tops adviser concerns as firms focus on client retention

According to survey by TFAS Compliance Services (TCS)

Sahar Nazir
clock 07 January 2026 • 2 min read