Aviva drops drawdown charge on platform

The insurer will not charge existing and new clients who want to use the drawdown service on its platform from September and advisers will be able to quote on this basis from 1 August. The reason behind the move is to better position Aviva's platform for the mid-market, which will be entering the drawdown space following the pension changes, head of platform proposition Phil Ralli (pictured) said. The Chancellor announced in March "no one will have to buy an annuity" and reforms taking effect next year will allow the masses to better access retirement options such as income drawdown. ...