Prudential's Vince Smith Hughes and Annuity Line's Billy Burrows took part in the latest Retirement Planner Conjecture debate to answer your queries on the income drawdown market.
Income drawdown has been described as misunderstood, underused and undervalued. Do you agree? Billy Burrows: Well, yes. Traditionally drawdown has always been seen as a product for high net worth clients. One of the things that has happened over the last three years – in particular with low interest rates, people retiring earlier – is that drawdown is becoming more appealing to what I call this middle Britain cohort. Vince Smith-Hughes: Clearly the time is challenging for annuities with rates as they currently are, so my sense is that advisers are looking for alternatives. Obviously ...
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