Product preferences

Income drawdown plans, by their nature, have considerable flexibility.

Most income drawdown plans are set up within a SIPP (self invested pension plan), of which there are a range of types. Some have a fixed (but wide) selection of investments, and others offer unlimited investment flexibility, and the former will tend to have lower charges than the latter.

For most people, a large range of funds is a minimum requirement. In addition we are concerned about:

Reasonable costs
Proven administrative skills
Online services e.g. valuations and fund switching
Financial strength to underpin a future commitment to the product

If you don’t get your income drawdown provider right, at least you can transfer elsewhere.

Beyond that, you must remember that, once an income drawdown plan is put in place, it is first and foremost an investment product. Therefore, unless you intend retaining total control over the investment choices and ongoing monitoring, you must have an professional adviser working alongside you with the skills to build a bespoke initial portfolio, and ensure this is monitored and adjusted from year to year - this is where our professional input can help.

Thank you for your latest information. Very helpful and puts the present situation into perspective...
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