The FCA is advocating the need for drawdown comparisons tools when they spoke at the PLSA Investment Conference (March 2018). Read summary here.
Even before the introduction of pension freedoms, CTC has been promoting tools to help consumers and advisers look more broadly at retirement income options blending annuities and drawdown. From a regulatory standpoint, CTC believes that whatever is stipulated for annuity comparison, the same should be mandated for drawdown.
In response to the FCA consultation paper on pension reforms (at the end of 2015), CTC described a market approach for comparing drawdown products in a readily understandable way to consumers. The comparison method could inform those confident of making their own investment decisions or be used to support advisers with their clients.
Details can be found in CTC’s Innovation Centre. Click here.
If you are having difficulty accessing the Innovation Centre, please email us at firstname.lastname@example.org