Life in the old dog yet

Annuities have long formed the backbone of the British retirement income market. However, the growth of income drawdown, particularly post A-Day has led to calls that annuities are inflexible and represent poor value for money. The issue reached new heights with a recent debate at London's Cass Business school being dedicated to the premise that drawdown may one day replace annuities. When attendees were asked to vote at the beginning of the lecture the results were posed on a knife edge with 53% of the audience believing that drawdown would indeed replace annuities - hardly a ringing endor...