Sentence examples for drawdown product from inspiring English sources

Which? also wants the government to introduce a stakeholder-style drawdown product that would provide a "low-cost, high-value" option for consumers.

Fewer than 10 per cent realise that opting for an income drawdown product means that as their pension fund remains invested, it can be paid out to the person of their choice when they are no longer around.

The couple, who live in a village near Swanley, Kent, opted for a drawdown product from Just Retirement, where they took an initial loan of £25,000 and have access to a further £20,000 as and when they need it.

Which? wants whichever party is in government to work with City watchdog the FCA to introduce a charge cap for drawdown products.

Just 13% of retirees opted to use their savings to buy an annuity, the FCA added, while 30% of people had taken some or all of their money using drawdown products.

Instead, many more people have been investing their pension cash in drawdown products, which allow them to take out regular amounts of money while the majority of their savings remain invested.

However, the ABI said it was starting to see a revival in popularity for annuities, with the number sold outstripping income drawdown products for the first time during the last three months of 2015.

The big thing from 6 April will be "drawdown" products that let you choose the amount you take out over the years, maybe with a small annuity thrown in to make sure you have a base income to cover essentials.

There will be more demand for income drawdown – products that allow savers to withdraw cash from their retirement pot – from 6 April 2015 when over-55s will be able to access all the money in their defined contribution pensions, rather than take an annuity.

But most experts are advising their clients to be extremely careful about relying on income drawdown products.

Campaigners have demanded that the platforms and pension companies that offer drawdown investment products (used by people who have withdrawn their pension pots in order to take an income) be more transparent about their fees, which are said to be "obscure and bewildering".