Adrian Boulding: Go against the pack and consider an annuity

If you recommend income drawdown for your client then you will be in good company. The latest data from the FCA for the year to March 2020, shows that annuity sales continue their steady decline, with less than 70,000 contracts sold. That's telling us that of the people accessing their pension pot for the first time, only one in 10 now buy an annuity. In recommending the funds to hold inside the drawdown policy, you will take careful note of the client's risk appetite and their potential to absorb losses if prices fall. It's a well-trodden path which you will be very familiar with. For c...