Retirement income: what are the options?

For many clients, retirement is the first point at which they will come into contact with an adviser

Source: FT Adviser

Retirement planning makes up a large proportion of business for advisers and is an area where significant value can be added. With myriad options to choose from, selecting – and monitoring – a retirement plan is extremely useful for many clients.

From small pots to large, those approaching retirement face huge challenges. Annuity rates remain relatively low (although the ABI is continuing work to encourage shopping around, most recently with the implementation of its code of conduct on retirement for its members), while low Gad rates pose a challenge for those taking drawdown.

 Here is a list of the available options:

•  Annuities - level, escalating or inflation-linked

• Enhanced annuities

• Investment-linked annuities

• Income drawdown

• Other options - equity release

   

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