New wave: Advising consumer savvy retirees in the new pensions world

If just half of the people that currently annuitise choose drawdown, then next year advisers could see £7bn heading their way from more than 200,000 pensioners. Early indications would suggest that the number of people opting for drawdown could be more than half, as even before the new rules come into place, annuity sales have fallen by 38%. Between April and June this year, 46,368 annuities totalling £1.8bn were sold – a fall of more than 40% from the same period last year. Add to this the possibility of hundreds of millions of pounds from trivial commutation exercises that may be re...