December 2020

Welcome to the revised, refreshed and rebranded update to our exploration of drawdown income sustainability.

Just in case anyone missed it, quite a lot has changed in the 18-or-so-months since we launched the original paper. Yes, all that. But the retirement income market has had its own excitement, with product and pricing activity and the full complement of regulatory gifts, all designed to ease the weary adviser’s path through life. Or something like that. They’re all covered in any case.

We also revisit our three retirement income scenarios, taking a range of on- and off-platform options, their various attaching costs (adviser, provider/platform, wrapper and investment) and how that all adds up over the lifetime of the investment.

TO RETIREMENT AND BEYOND: THE LIFETIME COSTS OF INVESTING – 2020 UPDATE is free to download, thanks to Scottish Widows who sponsored the original paper and this update. Yes, it’s a sponsored paper, yes, Scottish Widows has a commercial interest in the topic and no, they had no editorial sway.

We thank them for making this paper free for everyone to access and you for taking the time to read this updated version. We hope you enjoy it.