Retirement specialist Intelligent Pensions is setting up a monitoring
service for IFAs to review their clients' existing income-drawdown plans.
For a fee of 80 a year, the service will provide IFAs with quarterly
reports from Intelligent Pensions detailing the reasons for and against
buying annuities for their clients' drawdown plans.
The reports analyse each fund link in the drawdown plan to identify
whether the right combination of market conditions exists to make it viable
for the fund to be switched to an annuity, depending on the client's
The initial charge for clients is 125 per drawdown plan but the company is
discounting this by 100 for plans registered before June 30.
Intelligent Pensions says the service will help head
the FSA which has voiced
concerns over the standard
of advice on the 60,000 inc-
ome-drawdown policies alre^_ady sold.
Intelligent Pensions managing director Steve Patterso
says: “Most IFAs
know that pension drawdown and annuity deferral for a 70-year-old
“This raises the question of when annuities should be bought for existing
drawdown investors. You cannot recommend annuity deferral and
it at that.”