Making the grade?

It’s nearly fifteen years since the introduction of income drawdown in July 1995. Few financial products have caused more debate – with support for drawdown fluctuating as investment markets oscillate and interest rates rise or fall. During this time we have also seen the overdue development of new types of annuity products such as ‘third way’ variable annuities and fixed term annuities as the legislators have relaxed their definition of what constitutes an annuity. We’ve also seen the growing use of ‘scheme pension’ as an alternative to ASP and more controversially the introduction of ‘...