FCA: More than twice as many retirement pots moved into drawdown than annuities

Two-thirds of drawdown customers seek advice

Hannah Godfrey
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FCA: More than twice as many retirement pots moved into drawdown than annuities

The number of annuities purchased fell by more than a fifth while the drawdown market grew 4% in the six months to March, latest data from the Financial Conduct Authority (FCA) has shown.

The FCA's latest data bulletin out on Friday showed the number of annuities purchased fell 21% in the six months between October 2016 and March 2017, while the drawdown market continued to grow. This...

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