The importance of regular drawdown reviews
In contrast to the purchase of a lifetime annuity, placing your accrued pension fund into drawdown is not a ‘once and done’ exercise.
Whilst the former provides the annuitant with a known source of income for the rest of their life, a drawdown arrangement is a flexible financial planning vehicle that can adapt to changes in retirement income needs at different stages of later life.
"The need to maintain its ‘fitness for purpose’ – potentially over several decades – is therefore vital, and best achieved via regular reviews."
We look at the key aspects to be considered at each review, and the reasons why.
To continue reading, please download the briefing note below.