DWP publishes findings from retirement income planning survey

Article summary

The Department for Work and Pensions (DWP) has published its Planning and Preparing for Later Life (PPLL) document, a survey of over 2,500 40–75 year olds examining the choices people make regarding their retirement. The survey was commissioned in order to produce evidence for the development of policy in relation to the growing problem of inadequate retirement income. The PPLL survey also looked into how people had used pensions freedoms to access defined contribution (DC) pensions, finding that 56% of 60–65 year olds had already accessed at least one, while 29% who had accessed a DC pension had received no information, advice or guidance from their pension provider.