The 4% rule of thumb often used to define a sustainable approach for drawdown in retirement is no longer fit for purpose due to prevailing and sustained market conditions, says Lane Clark & Peacock (LCP).
Retirees are concerned about recent market volatility but are refraining from reacting and changing the investment policies of their drawdown products, Aegon research finds.
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.
Smart Pension and Legal & General (L&G) have partnered to create a workplace pension retirement income product that will combine drawdown and annuities.
A third of drawdown users lack any investment experience but many of those do not seek any financial guidance or advice, Zurich research finds.
The Work and Pensions Committee has called for the government to introduce an auto-drawdown option while allowing NEST to offer decumulation products, James Phillips reports