How Longevity and Health Information Shapes Retirement Advice

This report examines whether biased advice from investment advisors contributes to low annuity uptake in retirement planning, highlighting the role of behavioural and informational risks. It finds that while personal bias has limited impact, client health information strongly influences advisor recommendations, particularly around annuities. Professional advisors interpret longevity risk more consistently, though a quarter still fail to recognize annuities as a stable income source. The findings point to the need for better advisor training and improved public “longevity literacy” to support sound retirement decisions and trust in the system.