The International Longevity Centre-UK will consider why retirees fail to annuitise even when it is the best option as it carries out a report looking at the implications of the reform to pensions.
The think tank is holding a debate today in London, backed by Prudential, which will provide an opportunity to discuss industry and consumer responses to the Government's consultation on freedom and choice in pensions.
Over the next year, ILC-UK plans a range of activities to explore the impact of the changes, which were announced by the Chancellor in March – and which were further reinforced at the Queen's speech this month.

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The ILC-UK said in a statement: "ILC-UK will begin our work in this area by launching, with the support of Prudential, a discussion paper which will outline the Government's proposals to reform the market and highlight the types of choices that people will face and the support that might be available.
"Our analysis will consider the possible implications of the reforms by looking at the take up of different products across different countries (including US, Denmark and Australia).
"We will also incorporate a discussion of the vast array of literature on the so called annuities puzzle – the puzzle of why people fail to annuitise even if it represents the best option."
The report will consider how people currently use the lump sum option in the UK and how this differs by socioeconomic characteristics.
The debate today will feature talks from Ben Franklin, an ILC-UK Research Fellow, Dean Mirfin, from Key Retirement Solutions and Tim Fassam, from Prudential, among others.