Widows adds drawdown to retirement account

Scottish Widows has added a drawdown facility to its flagship Retirement Account, which it markets a...

Scottish Widows has added a drawdown facility to its flagship Retirement Account, which it markets as an alternative to Sipps. This is hosted on the same platform as the accumulation element of the product, making it easier for advisers to manage the portfolio. Iain McGowan, head of retirement income and planning at Scottish Widows, said this will allow customers to draw down just the right amount of money while maximising death benefits, which are greater within the accumulation stage. “The platform also allows ongoing contributions from clients who have already started to access som...