Drawdown surges as small pot solution

Pension software provider Selectapension has seen a 57% increase in the number of drawdown cases being analysed by advisers using its tools in the first week following the pension freedoms. Life company Prudential also reported a "surge of drawdown money" into its multi-asset PruFund after it collected £30m in funds. The government reformed the retirement income space in the last year, allowing all savers to access their pension savings and invest in products such as income drawdown. Selectapension said the pension changes, which became effective on 6 April, acted as a catalyst for...