“Planners continue to see a greater role for annuities as part of their retirement advice,” Investment Trends senior analyst Recep Peker said.

“In addition to already increasing usage, the intention to use annuities has also increased, with 59 per cent of planners intending to recommend annuity products in the coming year, up from 45 per cent saying so in the previous study.

“In recommending annuities, planners are responding to client concerns such as longevity risk. Healthy client interest will continue to buoy planner appetite for annuities in the current low interest environment,” he said.

Investment Trends found there was also an increase in the number of advisers using lifetime annuities as well.

“Thirty-nine per cent of planners [say] they intend to use them in 2015, compared with 31 per cent for long-term annuities (5 years or more) and 21 per cent for short-term annuities (less than 5 years),” a statement from Investment Trends said.

“In 2014, 19 per cent of planners used lifetime annuities, compared with 20 per cent for long-term annuities and 17 per cent for short-term annuities.

“Among planners who recommended income guaranteed products in the last 12 months the vast majority, 86 per cent, used a Challenger product,” the statement added.