Standard Life rolls out flexible drawdown option

There will be no increase in charges for using the flexible drawdown facility over capped drawdown and the set-up fee of £200 will be waived for the first three months from the launch of the feature. However, a one-off depletion fee of £300 will be incurred if the client withdraws their entire fund or its value falls below £20,000 within the first three years of them starting flexible drawdown. Alastair Black, head of decumulation at Standard Life, said: "Retirement is when advisers can really prove the value of their service by helping their clients planning and selecting their retir...