LV research finds that three in five over‑60s state the importance of certainty for their retirement income

New research* from investment, protection and retirement specialist LV= reveals more than half of UK adults aged 61-79 (56%) say certainty is the most important factor when thinking about retirement income. Almost a third (29%) prioritise flexibility, while just 19% cite growth as their primary goal, highlighting that retirement planning is far from a one-size-fits-all activity.

Compared with the wider UK adult population, those aged 61-79 show a notably stronger preference for certainty when in retirement income options (56% versus 43%). The requirement for flexibility is similar at around one third for both groups, while growth is considered more important by the overall UK adult population (27%) than by those aged 61-79 (19%).

Despite having clear views on what matters most to them, many of those approaching or in early retirement (aged 61-79) have yet to translate these priorities into action. A significant proportion (61%) have not considered specific retirement income options, highlighting an education and engagement gap that independent financial advisers (IFAs) are well placed to address.

Among those aged 61-79 who have explored their options, income drawdown was most considered (13%), followed by lifetime annuities (11%). Fixed Term Annuities, Equity Release, or blended strategies were far less commonly explored (6%), indicating opportunities for advisers to broaden conversations and introduce more holistic, blended approaches that align to the evolving needs of their clients.

However, navigating the range of retirement income options and tax wrappers can be complex for clients. A centralised retirement proposition can help bring clarity by combining different income solutions, such as drawdown, fixed‑term annuities and lifetime annuities, within a single, structured plan. This approach can support tax efficiency, help balance income security with flexibility, and improve client understanding and confidence.

Gwen Haggo, LV= Savings and Retirement Sales Director, said:

“Retirement planning is never one-size-fits-all, and clients in or approaching retirement shouldn’t have to choose between certainty, flexibility and growth. Our research shows most people value certainty, with many also seeking flexibility, while relatively few prioritise growth alone.

“This presents a clear opportunity for advisers to blend solutions and tax wrappers within a centralised retirement proposition, ensuring each client has the right balance for their goals and stage of life. Education and engagement are critical to building confidence and delivering retirement income strategies that are clear, resilient and personalised.”

• *Unless stated otherwise, the data used in this press release comes from a survey of 4,000 nationally representative UK adults conducted for LV= by Opinium in September 2025.