Bruce Moss: Solving the problem of non-advised decumulation

'Massive problem looming'

clock • 5 min read

Bruce Moss looks at the issue of non-advised decumulation – and some potential ways to solve the problem

Since the introduction of pension freedoms, hundreds of thousands of people are going into drawdown on a non-advised basis.  Analysis by Just Group recently found that in 2021, 40% of decumulation products were purchased without regulated advice, up from 33% in 2015. Clearly, there's a massive problem looming. There are so many considerations when it comes to using drawdown to provide an income for life, including many unknowns: how long will you live, how much money will you need, how will your investments perform as you age? We only need to look at the current situation with risi...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Addressing the 'regulatory timebomb' of income security

Addressing the 'regulatory timebomb' of income security

'Advisers remain concerned about the levels of withdrawals'

Kevin Carr and Matt Morris
clock 19 February 2024 • 4 min read
L&G annuity sales hit all-time high of £1.4bn in 2023

L&G annuity sales hit all-time high of £1.4bn in 2023

‘Turning point' for guaranteed retirement income

Jenna Brown
clock 15 January 2024 • 3 min read
Annuities firmly back 'in vogue' as rates jump 54% in two years

Annuities firmly back 'in vogue' as rates jump 54% in two years

Guaranteed retirement income has been on ‘remarkable journey’

Jenna Brown
clock 11 December 2023 • 2 min read