MetLife Retirement & Income Solutions
MetLife 2026 Paycheck or Pot of Gold Study
Feb 10, 2026
The Decumulation Dilemma: Annuity or Lump Sum?
MetLife launched its first Paycheck or Pot of Gold Study in 2017, followed by editions in 2022 and now a third release in 2026. With MetLife's 2026 Paycheck or Pot of Gold Study, MetLife took a fresh look at pre-retirees’ and retirees’ attitudes, decision making and expectations around retirement income – particularly the "decumulation dilemma" (i.e., the choice between purchasing an annuity and taking a lump sum).
Guaranteed Income is Crucial for Favorable Retirement Outcomes
Need for a Monthly Paycheck
Both retirees and those approaching retirement believe that having guaranteed monthly income is crucial for financial security in retirement—92% of pre-retirees and 86% of retirees say a retirement “paycheck” is very important or absolutely essential.
Nearly All Retirees Who Took an Annuity Laud Advantages
Lump Sums Depleted Quickly
Today, one in five retirees have depleted the lump sum from their defined contribution plan, and the rate in which lump sums are being depleted is even more pronounced — in an average of 4.4 years. Half of retirees who have lump sum money remaining are concerned it will run out and they estimate that, on average, they have ~11 years’ worth of money left.
Impact of Market Volatility
Both pre-retirees and retirees say market fluctuations have led them to appreciate the stability annuities offer and has also caused them to become more cautious with their spending.