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Good Practice Guide: Advised Pension Income Drawdown
Publication date:
25 April 2023
Last updated:
18 December 2023
Author(s):
Personal Finance Society
The introduction of pension freedoms revolutionised retirement income advice, and the first cohort to retire under pension freedoms is less than halfway through its retirement journey.
As a result, the lessons to be learned from pensions freedoms are still relatively new. Technology, too, is constantly evolving and changing the potential for delivering good outcomes in a more efficient way.
As a result, retirement income remains a pressing priority for clients, advisers and regulators. Analytical approaches, including cash-flow modelling, are developing all the time, as are alternative approaches to investment.
Pensions freedoms were introduced as a way to reinvigorate interest in saving for retirement, by giving people control over their savings in a way that had never been allowed before. Turning that dream into a reality in a well-planned way that produces good outcomes for savers is not straightforward, and usually requires significant amounts of professional advice.
We hope this guide makes a valuable contribution to suitability and the ongoing delivery of consistently good client outcomes.
Read the Good Practice Guide (PDF)
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.
