Drawdown investors look to annuity safe havens

Only in the last three weeks have signs of a ‘major capitulation’ emerged, the retirement income firm says, despite savers feeling the pinch of the credit crunch for more than a year. Dave Harris, managing director at Living Time, says: “The middle of October appears to have heralded a turning point in the demands clients are making on the advisers we deal with.” Harris says security has become the driving factor as falling share prices and dividends coupled with capital risk have fallen off the radar in favour of guaranteed growth and capital preservation. “It seems the huge swings...