By adding an income drawdown facility to its flagship Retirement Account Scottish Widows has been able to offer customers a seamless way of moving from pension accumulation to decumulation. Iain McGowan tells Helen Morrissey how it's going
What made you decide to add the Retirement Income element to the Retirement Account? How does it work? Scottish Widows launched Retirement Account in March 2007 and it was always our intention to follow up with the Retirement Income element. A significant proportion of Retirement Account customers expect their retirement to be a transition, rather than "a point in time" event. A key aspect of Retirement Account philosophy is to support that transition in a very streamlined manner within a single plan. The way it works is that Retirement Account has two elements: - The Retirement Plann...
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