Spencer says: “Therefore clients are now wishing to investigate this as an option to providing for their retirement. Many clients are wishing to have a guaranteed pension income to at least cover the essentials where they have seen these costs increase drastically in value over the last two years.”
Meanwhile, James Murray says over the past decade he has seen attitudes to guaranteed incomes change dramatically, as the majority of his clients have now moved away from the concept of purchasing an annuity in retirement in favour of a drawdown strategy.
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Ima Jackson-Obot is deputy feature editor at FTAdviser
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