Burned income drawdown pensioners claim potential 'mis-selling'

Dentons director of technical services Martin Tilley said his firm had been getting complaints from consumers who feel that income drawdown was "mis-sold to them". Tilley explained an almost "perfect storm" of unpredictable economic factors and regulatory changes had resulted in income drawdown levels dropping by 40% to 50%. The Financial Services Authority confirmed last year it would conduct a review on the advice given by IFAs on drawdown. However, Tilley added: "From contact with our introducing intermediaries, very few have been contacted by the FSA to date." The factors affec...