Increased flexibility

Income drawdown, or unsecured pension as it is now called, is not for everybody but is becoming much more popular as an alternative to buying an annuity. The reasons for the increased popularity in income drawdown are a combination of the worst annuity rates for 50 years and more flexibility on income and death in drawdown. That said, income drawdown still needs to be given care and consideration and, if poor investment decisions are made, has the potential to significantly reduce an individual's retirement income. In simple terms, the amount of income that is provided in retirement is ...