Related topic: Retirement

Of those who have spoken to a financial adviser about their retirement plans, just 7% were presented with equity release as an option unprompted.

Existing figures assume that the state pension ‘triple lock’ remains in place for the next fifty years.

One in four UK adults have not received any financial advice about retirement planning.

The average pension pot for a self-employed worker could sit at just £50,700 at retirement — roughly 15% of that of employees. 

UK adults who receive professional financial advice report a retirement confidence score of 5.5 out of 10 – well above the 4.2 national average.

Over a fifth of young people believe they’ll need £100,000+ a year for a good retirement.

The data shows a dramatic fall in the use of advice for drawdown, from two-thirds to less than half in six years.

The high-LTV option has been added to the lender's Resi and Resi Retire propositions to support borrowers with complex incomes.

Graduates that top up their pension contributions by just 1% per month from the start of their career could build up an extra £26,000 in their retirement pot.

The guaranteed fixed term income plan is part of Aviva’s strategic transformation programme for its annuity business.