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Retirement income market interactive analysis 2023/24

dunstonh
dunstonh Posts: 121,304 Forumite
Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
in Pensions, annuities & retirement planning
The FCA have published the data for 2023/24 which may interest some people on trends etc.

https://www.fca.org.uk/data/retirement-income-market-data-2023-24/interactive-analysis


I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

Comments

  • Albermarle
    Albermarle Posts: 31,274 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    dunstonh said:
    The FCA have published the data for 2023/24 which may interest some people on trends etc.

    https://www.fca.org.uk/data/retirement-income-market-data-2023-24/interactive-analysis


    Thanks, good for the pension geeks.

    Interesting to see the smaller proportion of annuities that are advised, considering the usual comments on here about this being the best route.
    On the other hand drawdown looks like good business for advisors. 
  • michaels
    michaels Posts: 29,531 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    A large proportion drawing down over 4% but perhaps this is mostly gap bridging to state pension / DBs...hopefully?
    I think....
  • NoMore
    NoMore Posts: 1,884 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    michaels said:
    A large proportion drawing down over 4% but perhaps this is mostly gap bridging to state pension / DBs...hopefully?
    Its drawdown per pension, its hard to equate it to portfolio size. Many people could have more than one pension or assets outside pensions, such that drawing a high percentage from a single pension is still less than 4 % of the entire portfolio.
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