Question: The amount of income an investor withdraws is generally reviewed every five years, but income drawdown investors may wish to make more frequent assessments of their situation…….a true statement? And what are the pro's of making such regular assessments?
Answers: Fiona Tait- Scottish Life A review of the maximum income that a client can withdraw must be undertaken every 5 years, however I would definitely suggest that any client who is taking income you should review the plan taking more frequently. The frequency that you decide to review is to some extent dependent on the clients age and proximity to annuity purchase and they amount of income they are actually taking, however I would support the FSA's view that this should be at least annually. The major issue is simple - if a client withdraws money from their plan there will ...
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