Better Business: Income drawdown - friend or foe?

July 2010 marks the 15th anniversary of the introduction of income drawdown. Few financial products have caused more debate, with support for drawdown fluctuating as investment markets oscillate and interest rates rise or fall. The gestation period and delivery pains of income drawdown remain fresh in my memory, although I suspect most readers will be largely unaware of the background. In the early 1990s double-digit interest rates were not uncommon, along with rapid movements in markets’ interest rates. I remember doing a comparison of two fictional brothers a year apart by age. Both...