Neil MacGillivray discusses the future prospects for flexible drawdown
It has been over two years since the introduction of the much hyped option of flexible drawdown. However how popular has it been and is it used to its maximum potential? The ability to take income from their pension fund as and when needed without any limit while avoiding the cost of triennial or annual reviews should in principle have made this a more popular choice. Particularly so when taking into account the current low gilt yields. What has actually been happening? Let's look at some numbers. If we review the situation in the James Hay Partnership, with approximately 15,000 pensi...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes