Most retirees will struggle to resist urge to splurge pot - survey

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Most people think savers will find it difficult to resist the urge to spend money earmarked for living costs in retirement when they are allowed to take pension pots as cash, research suggests.

A study from Aviva found 61% of people think savers will need to practice more restraint in future, although 52% said they could be trusted to spend their pensions wisely in retirement. The survey of 1,500 Britons found 22% of respondents expected their retirement income to run out before the end of their lives, and 42% thought it would last while they were active. While 28% of people felt confident about making the right decisions for their retirement, 41% said they would need more help and 30% admitted they lacked understanding. Aviva managing director for retirement solutions Cl...

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