Choosing drawdown options

Major changes are upon us that could transform the world of income drawdown advice. There is good news and bad news, as ever, but has the government got the balance right? I think so, but behavioural changes might throw up some unwanted consequences. Readers are no doubt familiar with income drawdown and that, while the 2006 pension rules did not require compulsory annuity purchase by age 75, such purchase was encouraged by the rules governing drawdown beyond age 75. Specifically, drawdown limits beyond that age were set lower than annuity rates and pension funds paid out on death to fami...