AE savers should default to drawdown at 55, annuities at 80, says CPS

James Phillips
clock • 3 min read

The Centre for Policy Studies (CPS) has called for savers to be "automatically protected" in retirement by phasing them between drawdown and annuitisation.

Savers should be automatically assigned to a drawdown policy at the private pension age of 55, with a default withdrawal of between 4% and 6%. Remaining assets should be placed in a diversified def...

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James Phillips
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James Phillips

Professional Pensions journalist from 2016-2022

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