Win, lose or drawdown

On 9 December 2010, the ­final details of the proposed new drawdown regime for April were ­announced. The capped ­drawdown regime was pretty much as we expected and a logical extension of the ­unsecured pension which we have come to know and love. More ­interesting is the idea of flexible ­drawdown, and I must admit I was surprised that the proposal is for it to commence this year. A straightforward concept The concept of flexible ­drawdown is straightforward: secure a ­prescribed minimum income level and you have the freedom to use the rest of the fund as you think fit, subject to the...