About Drawdown

The Case for Variable Annuities / Guaranteed Drawdown

Introduction

In the UK the name Variable Annuity is being applied to pension drawdown policies (Unsecured Pension) that provide a guaranteed level of income or capital. However the term Variable Annuity is misleading in the UK where annuities normally refer to guaranteed lifetime income policies. For this reason we prefer to use the term Guaranteed Drawdown. There are now several products in the UK that can provide a guaranteed income from a pension drawdown plan and these include (see the table in the PDF document for more details):

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The Case for Variable Annuities / Guaranteed Drawdown