Even though annuity purchase with a pension pot was traditionally well-received, the introduction of pension freedoms in April 2015 along with soaring life expectancy and plunging gilt yields and other aspects dented the prospect of annuities. The freedoms have provide consumers more choices as they have early access and the option to take tax-free cash, a drawdown product or an annuity. Meanwhile, flexible access drawdown has become popular that is ideal for those who have readied themselves to take investment risk. These insights are according to the intelligence report, titled, “ Annuities and Income Drawdown—UK—August 2019 ,” which has […]
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