In conclusion, it is easy to work out what the best annuity is but is much harder to work out what the best drawdown solution is.
The stakes are much higher with drawdown and therefore it is more important that the most suitable solution is found.
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Just accepting the drawdown offer from the existing pension provider, or transferring to a high cost drawdown with an inappropriate investment strategy may turn out to cost people much more than failing to get the best annuity rate.
It is clearly time to start thinking about shopping around for the most suitable drawdown.
Billy Burrows is director of Retirement IQ
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