Sanlam Private Wealth launches dedicated decumulation service

Its Sanlam Retirement Income Service is focused on decumulation in light of pensions freedom and choice, which opened up the retirement income market. Introduced in April this year, pensions freedom removed the effective need to buy an annuity and allowed defined contribution savers aged over 55 unfettered access to their pension pot, subject to normal rates of tax. Sanlam Private Wealth said its income service would give clients tailored options suited to each person's income requirements taking their tax situation into account. It said the service will allow a portfolio to be unb...