The 4% rule of thumb often used to define a sustainable approach for drawdown in retirement is no longer fit for purpose due to prevailing and sustained market conditions, says Lane Clark & Peacock (LCP).
Members of Phoenix’s defined contribution (DC) master trust will be allowed to access their pension savings via in-scheme drawdown.
Without proper support from pension professionals, savers are left vulnerable to attacks on all sides, says Henry Tapper.
Defined contribution (DC) drawdown providers will have to offer non-advised consumers investment pathways from August 2020, the Financial Conduct Authority (FCA) says.
Smart Pension will roll out an online financial well-being application to help members make decisions about their money in Q1 next year.
Retirees are concerned about recent market volatility but are refraining from reacting and changing the investment policies of their drawdown products, Aegon research finds.
Smart Pension and Legal & General (L&G) have unveiled a prototype demo of their workplace retirement income product which combines drawdown and annuities, exclusively to PP.
The average annual pension withdrawal rate jumped more than one percentage point between 2016/17 and 2017/18, according to the latest data from the Financial Conduct Authority (FCA).
Respondents in last week's Pensions Buzz said such pathways would help guide members and improve retirement outcomes.
Retirement Outcomes Review consultation
Some 41% of people in drawdown are not adjusting their pension income levels to account for stock market volatility, analysis by Zurich has found.
A third of drawdown users lack any investment experience but many of those do not seek any financial guidance or advice, Zurich research finds.
Women using drawdown can expect to receive £47,000 less in their pension pot over a typical 20 year retirement period, according to Zurich.
The Work and Pensions Committee has called for the government to introduce an auto-drawdown option while allowing NEST to offer decumulation products, James Phillips reports
Providers offer 'large amounts of information'
Scottish Widows has launched a range four multi-asset funds targeted at those in income drawdown.
Nigel Jones looks at how trustees and employers could be straying into giving members advice rather than guidance when it comes to DC schemes
There are increasing concerns retirees are not making informed decisions when choosing drawdown funds and could have high exposure to sequence risk, writes Stephanie Baxter.
This week's top stories included research revealing schemes could be paying 70% more to investment managers than at the beginning of the decade.
Savers using drawdown in retirement are potentially accessing their funds at an unsustainable rate, with money likely to run out within 25 years.
The state pension triple lock is too expensive to keep long term according to Pensions Buzz respondents.
The Centre for Policy Studies (CPS) has called for savers to be "automatically protected" in retirement by phasing them between drawdown and annuitisation.
The National Employment Savings Trust (NEST) will not expand its decumulation offering to enter the drawdown market, the Department for Work and Pensions (DWP) has confirmed.
Professor David Blake gives his view on how the pensions system can be improved.