BFS has advised a large number of clients over the past few years on the merits or otherwisernof pension drawdown. Although the Government is thinking of scrapping the compulsion to purchase an annuity at age 75, the humble annuity is far from dead. For those clients who do not wish to take any investment risk when they vest their pension, or do not have a sizeable enough pot to make drawdown cost-effective, a conventional annuity still has a role to play.
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