Skandia has seen a rapid rise in the number of advisers writing flexible drawdown business on its pension platform, with figures up 200% in the past 12 months.
Skandia's Collective Retirement Account (CRA) platform now has more than 1,000 flexible drawdown cases in operation. The business said it showed advisers no longer saw annuity purchase as the only option for retirees. Adrian Walker, pensions expert at Skandia, said: "It is clear that financial advisers are increasingly taking a broader view of their clients retirement needs, and as such are welcoming the more flexible solutions that are available." Flexible drawdown is available to people who already have a secure pension income in place of at least £20,000. This can come from the sta...
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