Fidelity's Richard Parkin: The big drawdown conundrum

Pension freedoms, giving all defined contribution savers unfettered access to their pots, were introduced last April. Since then a lot has happened. Of Fidelity's group pension holders about 7% to 8% accessed their pots for cash in some way, with two-thirds withdrawing their entire savings, albeit they were mainly small amounts. More interesting was the behaviour observed among advised customers, Parkin says, where many went into drawdown but very few were looking to take a regular income...