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Increasing use of income drawdown following the Budget annuity changes could see 20% of pensioners exhausting their funds before they die, pension experts have warned.

A poll of pension experts has found that 73% expect annuities to remain a key part of retirement planning.

Portal Financial, an advisory firm which says it deals with 2000 income drawdown cases a year, has reported an 80% rise in demand for retirement advice post-Budget.

A Sipp and SSAS firm has warned businesses of "disastrous consequences" if they fail to get their auto-enrolment schemes in place after its research found fears about the costs involved.

Two new senior managers are set to take up roles at a Sipp and SSAS company.

Another major pensions company has predicted its annuity sales will plummet following the Budget.

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