Drawdown

Demand for equity release products fell during the first quarter of 2008, possibly due to uncertain economic conditions, according to Key Retirement Solutions (KRS).

Intermediary sales of equity release products grew 25% in 2007, according to figures from Safe Home Income Plans (SHIP).

The popularity of equity release plans is increasing among the British population and a greater share of business is coming from intermediaries, according to Key Retirement Solutions (KRS).

Tomorrow, the at and post retirement specialist, has extended its drawdown offering to allow transfers between both Protected Rights USP contracts and Protected Rights ASP contracts.

Zurich has enhanced its drawdown proposition by including the ability to drawdown income from protected rights.

Advisers should focus on alternatives to annuities to help high-net-worth clients maximise their retirement income, claims Fidelity International.

Prudential has launched the first with-profits annuity which can be purchased with protected rights funds, following negotiations with the Department for Work and Pensions.

Skandia say offering alternatively secured pensions, ASPs, can encourage greater pensions savings.

If the government decides to abolish or alter alternatively secured pensions in the pre-Budget Report, pensioners will be left with no choice but annuities past the age of 75, but are these still a viable proposition?

The Financial Services Authority has publicly censured GD Tancred Financial Services for not clearly explaining the risks of income withdrawal to customers with pensions under £100,000.