Lincoln: Flexible pensions 'are becoming more popular'

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Lincoln: Flexible pensions 'are becoming more popular'

Thu 8th Jan 2009

Lincoln Financial Group has released data which shows an increase in the numbers of customers enquiring about flexible pension packages, suggesting that they are becoming more popular.

According to the pension provider, the numbers enquiring about the flexible Lincoln i2Live pension plan increased by 30 per cent over the course of one month last year, as the credit crunch began to bite.

The firm added that the credit crunch probably caused the increase, as it has had a "severe effect" on UK pension pots in recent months.

Simon O'Connor, head of product and marketing at Lincoln Financial Group, said: "As retirees have seen their pension pots dramatically decrease over the past six months they are now recognising the value of retirement products with income guarantees."

Legal & General released the results of a survey late last year which showed that making pension packages more flexible could increase their popularity, especially during tough economic times.

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