Why phased annuitisation should be an option

Most advisers tend to think of pension drawdown as a product. But in reality, it is not. Legislation permits anyone in a regulated pension scheme to draw down their benefits as an alternative to buying an annuity. Of course, many schemes and policies do not have the facility to accommodate drawdown and so usually, it is necessary to transfer to a plan that does. But there is no such thing as a drawdown policy per se. The reason I highlight this is that it affects the advice process and the approach to the issue of annuitisation. It is not whether to annuitise that is the key point, bu...