Believe it or not, it’s already been nine years since the introduction of pension freedoms. And while it’s fair to say that the arrival of drawdown has transformed the way that clients can plan income in retirement, when the new measures were announced back in 2015, they were made against the backdrop of a generally benign economic climate.
What had changed and what could paraplanners do?
Today, high interest rates and stubborn inflationary pressure, coupled with greater regulatory scrutiny courtesy of The Consumer Duty and the FCA’s retirement income review, make for altogether more changeable weather.
So how are paraplanners expected to make forecasts and hatch plans that will deliver sustainable incomes for clients in their retirement? Plans that stack up under scrutiny – and against the demands – of The Consumer Duty?
During this lunch-hour Assembly, Gareth not only explored these issues but dug into other considerations that could influence paraplanners, advisers and clients when thinking about accumulation and decumulation strategies including:
- Cash flow modelling and stress testing – and its importance
- Is it ‘annuities vs drawdown’ or ‘annuities + drawdown’?
- Platform selection and what to consider
- The abolition of lifetime allowance – what does it mean?
No matter what your experience or expertise as a paraplanner, this 60-minute session offers insights and ideas when considering options for successful and sustainable income in retirement for your clients.
