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Income drawdown – July 2013

    CPD
    Approx.60min

    Introduction

    There is little doubt that drawdown is an advised event. The vast majority of business in our survey is advised, testament to the work put in behind the scenes by IFAs to guide clients through a happy retirement.

    But it is not all plain sailing in the income drawdown world. Constant tinkering with the rules has left providers and clients confused, with operators taking various approaches to new legislation. Poor investment performance has left some wondering whether drawdown remains the right choice, although annuities do not look much better.

    And several big-name providers still do not offer flexible drawdown. Despite its having plenty of time to bed in, some still remain reticent to offer this more bespoke option.

    MM’s brand new income drawdown survey looks at all the key aspects of the market: who offers what? How much are they charging? It also considers the impact of Gad changes and how this is affecting clients on the ground.

    In this special report

    CPD
    Approx.60min

    Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

    1. How many clients were included in the survey data?

    2. What percentage of providers automatically uplifted 100% Gad customers to drawing 120% when the rules changed?

    3. Which of the following providers does not offer flexible drawdown?

    4. According to the survey, what is the total drawdown assets under management?

    5. How many people will reach their 66th birthday in 2013?

    6. What is the projected growth in the number of over-75s in the next 10 years?

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