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Editor’s letter of the week

Where do they find people like Lawrence Churchill? (Churchill: Stop forcing people to gamble on their pensions, 15 November).

Apparently he is the Chairman of Nest – Now Expect Some Trouble.

He urges providers to develop more flexible alternatives to standard lifetime annuity contracts.

Wake up, Lawrence. Providers are already doing this. Quite apart from drawdown and flexible drawdown contracts, which have been around for some time, there are also flexible annuity contracts from the likes of Prudential and MGM, to name but a few.

I may be revealing my ignorance but I have no idea who Lawrence is or what he has done.

Anyway, he needs to wake up and smell the coffee.

This is and has always been a most inventive industry, prepared to go back to the drawing board and come up with new ideas for new problems.

I have never liked the unfairness of standard annuities. Like many IFAs, we have always sought to find more suitable arrangements for our clients.

I am grateful for the inventiveness shown by many product providers for their help in achieving the solutions our clients need.

The House of Lords debates on this subject are a bit “after the Lord Mayor’s show”.

Gerald Davies


Kymin Group


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