A question of timing

The removal of the Age 75 rule has opened up a whole new world of flexibility for advisers and their clients who can choose to remain in income drawdown indefinitely. But while this extra flexibility is no doubt good news for many people, the actual numbers of those with the necessary funds to utilise income drawdown remains small. Recent data from the Pensions Policy Institute states that between 600,000-700,000 people aged between 55-75 in 2010 could potentially make use of capped drawdown. This represents 5% of all people aged 55-75 years of age in 2010. The report also conclude...