The Future of Pensions Advice: Part 2 – ‘Drawdown – have we learned the lesson?’
Session: 12 May
The FCA’s finalised guidance on DB transfers has a direct impact on retirement advice and centralised retirement propositions. In this seminar Andrew Nash, Pensions Business Development Manager at Prudential, discussed that impact and how to ensure best practice is applied in income drawdown situations.
Andrew also talked about cashflow modelling stress testing, and methods for assessing both predictability and sustainability of drawdown planning.
Learning Outcomes – to demonstrate an understanding of:
- How FCA guidance on DB can influence your overall retirement advice process
- Considerations for stress testing income drawdown
- Assessing predictability and sustainability in drawdown planning
Presenter – Andrew Nash – Pensions Business Development Manager
To claim your CPD certificate, test your knowledge with the questions below.
Write down your answers to each of the following questions and check your answers when you click through to claim your CPD certificate on the link below.
Test your knowledge
1. In the 2008 FSA thematic review, what percentage of files reviewed where deemed ‘unclear’?
2. What special regulatory permissions are required to advise on pension switches without safeguarded benefits?
a. The adviser must be a Pension Transfer Specialist (PTS) and undertake Transfer Value Comparator (TVC) analysis
b. The adviser must be a Pension Transfer Specialist and the firm is required to hold specific transfer permissions
c. The adviser is not required to be a Pension Transfer Specialist, nor does the firm require specific transfer permissions
3. The investment term ‘maximum drawdown’ may be summarised as what?
a. Maximum Drawdown represents the worst running return over a period – for example, the longest running consecutive loss without making a gain
b. Maximum Drawdown represents the worst possible return over a period – for example, buying at a maximum price over the period and selling at the worst price
c. Maximum Drawdown represents the level of income drawn is deemed to be sustainable
To claim your CPD certificate, click here.