Our drawdown governance service turns three

25 June 2019



As we celebrate the third birthday of our drawdown governance service (DGS), let’s take a look at the numbers so far.
  • Over 26,000 customers are registered on DGS.
  • 70% of these customers are taking an income.
  • The average amount of retirement savings is over £110,000.
  • The average age of a customer is 65.7 years old.
  • Over 3,000 adviser companies are using the service.

There’s more than £3.2bn invested in our Governed Retirement Income Portfolios (GRIPs). 

Figures at 1 May 2019.

Most of the customers on DGS are baby boomers - a generation that’s saved hard and is now looking forward to enjoying their retirement.  But they also have a lot to think about. Should they:

  • Save money for ‘later life’?
  • Help out family members who may be struggling financially?
  • Or just enjoy life? They’ve saved for it after all.

Can they do all three?

Our drawdown governance service is designed to help you monitor the sustainability of your client’s income and see when things are heading off track.

Every quarter, it will calculate a new income sustainability score for your clients, based on what’s happening in the market.

Every quarter, it uses a sophisticated economic forecast, provided by Moody’s Analytics, to calculate a new income sustainability score for your clients, based on what’s happening in the market.  This stress tests your client’s income by looking at 1,000 different ways the economy could perform and lets you know if any of your clients need attention.

To find out more about our drawdown governance service, speak to your usual Royal London contact. 

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.