Hundreds of thousands of DIY drawdown investors are unaware they can scale back or stop their withdrawals, putting them in danger of draining their retirement savings too rapidly, according to new research for Zurich.

Analysis by the Lang Cat for Zurich has found investment platforms were struggling to get to grips with delivering income in retirement.

Platform provider Zurich has added a junior ISA and pension to its platform in a move to target “impending baby boomer wealth transfer.”

Thousands of bereaved partners could be paying tax unnecessarily on ISA savings they inherit from loved ones, platform provider Zurich has warned.