Drawdown advice probe will be retrospective, says FSA

The FSA said when launching the review that it was in light of the changes to drawdown which came into force in April this year. However, Milton Cartwright, manager of pension investment policy at the FSA, said the review will look back further than this year at drawdown under the old rules as well. "We are keen to ensure customers are getting good advice and we foresee an increase an increase in the use of drawdown," said Cartwright. From April, pensioners have been able to access capped drawdown of the equivalent annuity rate, or flexible drawdown of any sum provided they have a ...