Only 50% of retirees plan to seek annuity advice

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Half of Brits approaching retirement have no plans to seek advice on their annuity purchase, according to MetLife.

Furthermore, just one in five will speak to an IFA about their retirement options, despite widespread ignorance of the complex annuity market. MetLife's research found 48% of those within five years of retirement age have no plans to seek advice on which retirement income product is best for them. A mere 22% plan to seek advice from an IFA, while 10% say they will ask their pension provider for advice on how to use their retirement savings. "Retirement savers have to literally live with their annuity choice and we would urge everyone to take advice on the decision," says MetLife's str...

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