Drawdown

Labour has urged the government to ensure none of the 320,000 savers expected to take advantage of pension freedoms are exposed to "rip off charges".

Sales of drawdown contracts have more than doubled compared to the third quarter of last year while annuity purchases continue to fall, according to latest Association of British Insurers (ABI) statistics.

One in two advisers admits to not having a thorough knowledge of the annuities market, according to research.

Scheme pensions could be a good choice for pensioners in drawdown who have been hit by record low income rates, according to Hornbuckle Mitchell.

London & Colonial has increased maximum income levels on its New Open Annuity.

Advisers should take a cautious approach to drawdown of Protected Rights within SIPPs, the Association of Member-Directed Pension Schemes (AMPS) warns, after receiving clarification on the rules from the Government.

Scottish Life has launched an annual review of Income Release options to help IFAs advise clients nearing retirement.

A flood of income drawdown investors have requested annuity quotations as a result of the banking bail-out, according to Living Time.

The value of new equity release business has fallen nearly 7% over the past twelve months, but is faring considerably better than the mainstream mortgage market.

The number of equity release plans sold this year has fallen by 16% compared with 2007, according to research from Key Retirement Solutions (KRS).