We live in a world where early access to pensions is, in the words of the Financial Conduct Authority, "the new norm".

So it is no wonder advisers are seeking products that allow their clients to shift seamlessly into retirement by taking account of their ever-complex lives.

There is also the growing phenomenon of  ‘pretirement’ – where people gradually scale back on work or change jobs altogether rather than stopping work entirely.

According to research by Prudential, one in three of those planning to pretire this year said they were doing so because they enjoyed working while 34 per cent of those considering working beyond the state pension age said they simply did not feel ready to retire.

Only one in 12 – or eight per cent of those surveyed – said they could not afford to retire.

Until fairly recently those wanting to fund their retirement had two options; they either bought an annuity or went into income drawdown. 

Income drawdown offers more flexibility than annuities because it allows for income to vary. But, of course, the risk of keeping funds invested comes with a downside; that is, there is always the chance the client could run out of money.

Somewhere between the inflexibility of annuities and the uncertainty of drawdown lies the solution, that of blended retirement products. Hybrids that contain both a self-invested personal pension and an annuity, these products are offered by several providers.

They aim to accommodate the need to stay invested in the earlier phases or retirement and allow for greater continuity of income in later retirement.

Advisers are also embarking on their own blended retirement solutions as a result of growing client demand – and awareness as a result of 2015's pension freedoms and choice.

This evolving pensions landscape comes with challenges as well as opportunities. Although the tailored products aim to make retirement planning less complex, there is still the need to balance the demands of the client as their transition towards giving up work progresses.

Figures from Willis Towers Watson figures show that sales of blended retirement products have grown 60 per cent in the past six months so there is no doubt that – for the near future at least – more clients will be looking to fuse their pension needs using these solutions.

Getting the right advice is more of a priority than ever before.

Samantha Downes is assistant editor of Financial Adviser