Primetime Retirement supports drawdown rethink

This follows AJ Bell's chief executive Andy Bell's recent calls for the calculation of drawdown income to be changed. Stuart Wilson, marketing director, Primetime Retirement, said: "There is evidence that even standard annuities are now providing higher income than the maximum income available of which 20% of savers take under drawdown." Bell had written to the Treasury calling for the 20% uplift on drawdown calculations to be reinstated as investors face drastic falls in income. Wilson said: "We fully endorse the views of Andy Bell calling for more income drawdown flexibility." Ho...