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Article: Experts Say Beware Income Drawdown Pension Plans.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 17, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Tracey Boles, Sunday Business, London Knight Ridder/Tribune Business News
Sep. 17--The pensions industry, already struggling to retain its credibility among a slew of scandals, is coming under fire for possible misselling income drawdown pension plans.
Income drawdown, sold as an alternative to annuities for those who want to leave their pension invested in the stock market after retirement, is only for prospective pensioners with bulging pension pots and a tolerant attitude to risk, experts say.
But life companies are accepting floor-level investment far below the UKpound 100,000 minimum recommended by independent financial advisers. ...