Will simplification on A-day restore drawdown’s shine?

Since drawdown was launched. it has been no more that modestly successful, and sales have been flat over the last two years, but from A-day the proposed changes seem set to make unsecured income increasingly flexible as a retirement product, says Gregor Watt

The shifting sands of drawdown

Since its launch, income drawdown has shown a steady rise in the number of new contracts written each year. But the beginning of this year showed a slight slowdown in sales. Is this trend likely to continue, asks Katie Hope