Your Industry 

Income Drawdown - March 2015

    CPD
    Approx.60min

    Introduction

    Providers are lowering their limits; non-advised services are being launched to meet inevitable demand. Warnings abound of people running out of money, as the industry struggles to recalibrate past assumptions that put drawdown out of reach of all but those with a six-figure sum saved.

    But depending on the circumstances, drawdown - along with other flexible options - could be useful for particular savers even with supposedly modest pots. For many it will form part of the new breed of blended solutions that incorporate a degree of guarantee.

    This special report will focus on the changes to drawdown coming in just three weeks and covers everything from how you can used grandfathered capped drawdown to retain annual allowance, to where the dividing line might be drawn to make use of the flexi-access alternative.

    This special report is sponsored by Royal London. All editorial is independent.

    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. For clients already in flexible drawdown that automatically move into FAD, what will happen to the annual allowance?

    2. Who would be unlikely to want to use UFPLS, according to Claire Trott?

    3. What is the effective minimum pot size for drawdown going to be, according to Rod McKie?

    4. And what was the average drawdown pot size in Q4 2014, according to the ABI?

    5. How do the new rules help 63-year-old Clive to retire earlier?

    6. What does Mr Trenner warn John about taking £20k+ as a lump sum to buy a car if his pot size was £100,000?

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