John Moret discusses the implications of the new drawdown regime, suggesting a more illustrative pensions systems.
Welcome to a new era of drawdown pensions. The requirement to purchase an annuity at age 75 has gone (forever, one assumes) and we have two variations on the drawdown theme: capped and flexible. I don't intend to go through the details of the new regime as these are readily available from many different sources. Although, I would assume all advisers will be familiar with the rules as they affect all current users of the old USP and ASP regime, along with clients looking at their retirement options for the first time. Advisers are already faced with a dilemma as many providers of USP ...
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