Older people are able to sustain a more comfortable lifestyle through a longer retirement by investing in a range of products, Fidelity International has claimed.
Its new Retirement Funds invite savers to build up a portfolio which includes shares, bonds, commodities, cash, and properties, giving them a balance of investments.
Spreading their financial commitments minimises risk and allows for a longer-lasting retirement period, Richard Wastcoat, Fidelity International's managing director, emphasised.
"A couple in good health aged 65 today have a 50:50 chance that one of them will live to be at least 93," he explained, making pensions planning that can span a 30-year period critical.
Retiring with a panoply of different asset allocations in your investment basket allows pensioners to "draw down their savings at a sensible rate", Mr Wastcoat stressed.
Fidelity recommends a withdrawal rate of four per cent, a gradual withdrawal which nevertheless leaves enough put by to continue generating income and sustaining lifestyle.
The recent Fidelity Retirement Index warned that many British workers faced a "meagre retirement" unless they rethought unrealistic expectations about retiring at 62 and living on pensions savings alone.
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