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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

PPI: Combined pensions data reveals benefits, flaws and opps for UK pension system

PPI: Combined pensions data reveals benefits, flaws and opps for UK pension system

Nicky Day shares some of the initial findings of the Pensions Data Project

Nicky Day
clock 26 November 2025 • 3 min read
Partner Insight: How this year's Pension Engagement Season 'sparked a movement'

Partner Insight: How this year's Pension Engagement Season 'sparked a movement'

Innovation and this year’s industry-wide campaign have set a new benchmark.

Jill Henderson, Head of Strategic Workplace Relationships, Scottish Widows
clock 21 November 2025 • 3 min read
Aegon's largest default fund hits £1bn in LTAF assets

Aegon's largest default fund hits £1bn in LTAF assets

Provider has established a combined target of 17% allocation to LTAFs by 2028

Martin Richmond
clock 18 November 2025 • 1 min read
Trustpilot