LV= launches drawdown report for advisers

The report highlights the various personal circumstances and market changes which impact reasons for being in drawdown, particularly for clients over the age of 75.

The report aims to offer advisers practical insight and support, and financial analysis of the drawdown market. The report explores the abolition of compulsory annuitisation at age 75, and addresses the key points that advisers need to consider if their clients wish to remain in drawdown.

The report also looks at alternative reasons why people find drawdown an attractive proposition, such as being able to vary their income for tax reasons, as well as those who want to maximise death benefits to pass to their family. It also addresses the issue of phased drawdown and the opportunity it offers clients keen to shelter their pension funds from a tax liability on death.

Steve Lewis, LV= Head of Distribution said:

"We believe that there are many circumstances where income drawdown, be it capped, phased or flexible, can provide clients with a valuable level of flexibility in retirement.

 "While it is important that advisers make their clients aware of the challenges they face by remaining in drawdown at older ages, adviser feedback indicates that many simply prefer the financial control drawdown offers them. As one of the leading drawdown providers we feel a responsibility to provide advisers with objective information to help them confidently discuss drawdown products with clients of any age."