Research of the adviser market has shown a sharp rise in the number using income drawdown modelling tools, with over half (51%) using the tools compared to 38% last year.
Gaudi, the SIPP and platform fintech business, has launched a white-labelled pension income drawdown product that can be used by any financial brand.
Retirees using the Pensions Freedoms are demanding more flexibility on income withdrawal and driving demand for financial advice.
Increasing use of income drawdown following the Budget annuity changes could see 20% of pensioners exhausting their funds before they die, pension experts have warned.
Portal Financial, an advisory firm which says it deals with 2000 income drawdown cases a year, has reported an 80% rise in demand for retirement advice post-Budget.
Skandia is reminding pensioners in drawdown to use their full income allowance to maximise tax efficiency.
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