The rise of flexible drawdown

FLEXIBLE DRAWDOWN

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After a lacklustre start, flexible drawdown is now coming into its own, writes Claire Trott, pensions technical manager at Suffolk Life

It is safe to say flexible drawdown did not have the explosive launch that was expected, initially being seen as only for those wishing to liberate their funds from the restraints of a pension. Since then, advisers and clients alike have seen what flexible drawdown is really capable of. This has seen an increase in the number of self-invested personal pensions (SIPPs) and personal pensions either moving from capped drawdown or crystallising straight into flexible drawdown. Why the rise in interest? There are many reasons why there was originally so little take up, not least the need...

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