Flexible drawdown in the spotlight

clock

Stewart Dick looks at some of the factors contributing to a rise in use of flexible drawdown.

It is perhaps not surprising that the widely predicted boom in flexible drawdown has failed to materialise so far. A 50% top rate of income tax, a lack of interest from the big providers and a wait-and-see attitude from some clients and advisers have all combined to turn the much-trumpeted arrival of flexible drawdown into something of a damp squib. So why are providers now beginning to detect a change of heart, manifested both in an increase in clients preparing to switch from capped drawdown, and from SIPP and personal pension investors looking to crystallise straight into flexible ...

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

What next for the income drawdown 'class of 2015'?

What next for the income drawdown 'class of 2015'?

‘Advisers know that retirement planning does not stop at retirement’

Stephen Lowe
clock 28 March 2024 • 5 min read
Retirement income advice: FCA finds 'mixed picture' among case files

Retirement income advice: FCA finds 'mixed picture' among case files

Regulator published outcome of thematic review into retirement income advice

Jenna Brown
clock 20 March 2024 • 5 min read
FCA tells IFAs to review retirement income advice processes

FCA tells IFAs to review retirement income advice processes

Comes after regulator’s thematic review of retirement income advice

Jenna Brown
clock 20 March 2024 • 2 min read