Savers have piled into drawdown products since the pension reforms ripped the heart out of the annuity market.
However, most of these new drawdown investors are managing their funds without the help of an adviser, raising fears they could be left short-changed a few years down the line.
Hargreaves Lansdown is the biggest drawdown provider in the country.
Head of retirement policy Tom McPhail shares the firm’s analysis of 27,000 customers exclusively with Money Marketing, which appears to show customers sensibly managing their pots despite recent market turmoil.
However, Just Retirement’s Steve Lowe and Worldwide Financial Planning IFA Nick McBreen warn the non-advised drawdown experiment is a disaster waiting to happen.