One in 10 of this year's retirees will take their entire pension pot as a lump sum, Prudential's 'Class of 2018' research finds.
Pension savers in their final years of work are concerned they will not be able to match the living standards of those who have already retired, according to research by Prudential.
Two out of five advisers have seen an increased number of clients going ahead with defined benefit (DB) transfers despite recommendations against, according to Prudential research.
Pensioners are at risk of paying more tax than necessary by withdrawing over 25% of their fund in one lump sum, a Prudential analysis has found.