Transfers in drawdown

Published  02 December 2020
   60 min read

The introduction of Pension Freedoms in 2015 had a significant impact on the defined contribution (DC) at-retirement market.

The most obvious change was an increase in the number of customers choosing to access their DC pension benefits through an income drawdown plan, instead of buying an annuity.

CPD learning outcomes - 60 minutes

  • Explain the rules impacting transfers in drawdown
  • Identify factors which could require a transfer in drawdown
  • Explain how regulatory changes could influence the transfer in drawdown market.

What's covered

  • Whether drawdown plans remain suitable to achieve the client’s needs and objectives on an ongoing basis
  • Retirement Outcomes Review and PROD rules within MiFID II
  • Helpful planning points for less common cases.

CPD certificate of completion

Once you've watched the webinar, simply complete the short quiz below and give us a few details in order to receive a CPD certificate of completion. It will open in a new browser ready to be saved as a PDF.

Check your knowledge

To gain your CPD certificate answer the following questions.

1. According to the FCA’s retirement income data from April 2018 to March 2020, approximately what proportion of drawdown plans established were PCLS only, no income?
2. In the Retirement outcomes review, the FCA found charges in drawdown plans range from…
3. From which date are providers required to offer Investment pathways?
4. If a client in capped drawdown with one provider transfers their plan to another provider, it automatically becomes a flexi-access drawdown plan.
5. At what age is the last benefit crystallisation event for defined contribution pension plans including income drawdown?

CPD certificate details

Please enter your details below in order to receive a CPD certificate of completion. It will be displayed in a new web browser tab for you to save to your records.

* Indicates a required field