Many DC savers on cusp of retirement oblivious as to how to access their pension

Research finds over a third of workers aged 50 to 59 fear running out of money in retirement

Martin Richmond
clock • 2 min read
Many DC savers on cusp of retirement oblivious as to how to access their pension

Nearly half of defined contribution (DC) savers on the verge of retirement are unaware as to how they will access their pension savings, according to research by TPT Retirement Solutions.

The firm's survey of 2,500 DC members aged between 50 and 59 years old, conducted in February, found 49% of those nearing retirement did not know how they will access their pension when they reach ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Government announces small pensions pot consolidator

Government announces small pensions pot consolidator

Pension Schemes Bill measure will reduce admin costs and boost pots

Jonathan Stapleton
clock 24 April 2025 • 2 min read
Mansion House Compact II draft circulated after 'tense' negotiations

Mansion House Compact II draft circulated after 'tense' negotiations

Reports say Rachel Reeves is closing in on a £50bn deal with pension funds to ‘buy British’

Jonathan Stapleton
clock 22 April 2025 • 2 min read
Aon urges DC members to 'stay calm' amid increased market volatility

Aon urges DC members to 'stay calm' amid increased market volatility

Firm warns savers to be ‘on their guard’ against risk of scams during tariff-induced turmoil

Martin Richmond
clock 14 April 2025 • 2 min read
Trustpilot