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Article: Drawdown discussion resurrects risk fears.
- Article from:
- Financial Advisor
- Article date:
- March 9, 2006
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Low annuity rates may be encouraging pensioners to look at drawdown, according to a pensions provider.
Paul Riddell, PR and communications manager for Winterthur Life, said: "The current low rates could see people opting for a drawdown income and passing on their assets to their heirs."
But Andrew Oliver, regional director of the Annuity Bureau and the Drawdown Bureau, said that there were not many people who would benefit from this.
"I do not think people fully understand the risks associated with drawdown so what we have done here is set up some guidelines.
"If a client has a pension fund of less than AGBP150,000 then drawdown is not ...