Less than 10% of employees automatically enrolled into a pension scheme have so far elected to opt out, according to official figures.
It is "unrealistic, uneconomic and unnecessary" to expect those approaching retirement to take regulated financial advice, according to Hargreaves Lansdown.
Pensions minister Steve Webb is considering changing the law to combat the growing problem of pension liberation.
Andrew Pennie asks why income drawdown is not more widely promoted in decumulation strategies.
More workers in their 50s are choosing opt-out of automatic enrolment (AE) into workplace pension schemes than any other age group, according to official statistics.
The number of people saving into an occupational scheme has fallen by about 500,000 since 2010, according to figures from the Department for Work and Pensions (DWP).
Retirement income experts have expressed concerns at the decline in the number of retirees claiming pension credit, on the back of new figures published by the Department for Work and Pensions (DWP).
JLT Employee Benefits (JLTEB) has suspended consultancy charging on corporate schemes until the Department of Work and Pensions (DWP) completes its investigation of the practice.