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L&G: Thousands of retirees potentially missing out on vital income

Retirement news for Financial Advisers and Paraplanners

4 Jan 2018

L&G: Thousands of retirees potentially missing out on vital income

Lack of understanding and misconceptions about how annuities work, are still prevalent. 

Our recent research of more than 2,000 over-55sfound that three quarters of them are unaware that medical conditions or lifestyle factors such as smoking could actually increase the money they receive from an annuity. 

Over 80% spend an hour or less a week actively managing their retirement finances. Infact, a greater proportion of consumers spend more time choosing a new car, than they do planning how they want to take their pension income, so it’s little wonder that only 53% of our respondents could accurately describe what an annuity is. Find out moreabout how retirees approach retirement. 

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Q0058124 11/18 SUB193464

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