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.

Seven in 10 people in retirement have so far failed to set up a Lasting Power of Attorney (LPA), according to new research. 

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

Staff and advisers at the Openwork network have raised £562,000 in the past year to help disadvantaged children and young adults, pushing the total raised since 2005 by people working for Openwork to £7.4m.