How clients can make the most of flexible drawdown

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Martin Tilley of Dentons Pensions Management looks at whether clients meeting the minimum income requirement should automatically apply for flexible drawdown.

My career in pensions started in 1982 when governance was provided principally by the Finance Act 1970. Although I expected times would change and so would legislation, one of the key messages I understood from my early years was this:“Tax incentives are granted on the understanding that resultant benefits from a retirement savings contract are payable for the life of the individual.” It is nearly a year now since this message was shattered by the announcement of flexible drawdown, a means of apparently withdrawing pension capital at times and at rates to suit the individual without l...

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