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Previewing the review for clients in SIPP Drawdown

On this webinar Colin Simmons, Pension Business Development Manager, Pru, and Stuart Eve, Business Development Manager, Curtis Banks, looked at what advisers should be considering when conducting client income drawdown reviews - challenging the thought process on: Is the income still sustainable; Is the investment still suitable?

They also explored different investment techniques and shared best practise from the recent FCA finalised guidance paper, and what it could mean for drawdown advice.

Following the session you should now be able to:

  • Build a robust drawdown review for the process
  • Take learnings from the FCA Defined Benefit guidance for drawdown advice
  • Identify whether it's worth taking investment risk if close to or at the Lifetime Allowance (LTA)
  • Provide effective use of cashflow modelling to demonstrate client understanding
  • Explain the considerations of investment risk when dealing with the LTA
  • Explain the Self Invested Pension Plan due diligence and the Specie transfer process

Presenter –

-Colin Simmons, Pensions Business Development Manager, Pru

-Stuart Eve, Business Development Manager, Curtis Banks

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)     FG21/03 is the finalised guidance for what area of advice?

A.     Equity Release

B.     Pension Funding

C.     DB Transfers


2)     FG21/03 refers to tiering the client income into the following…

A.     Essential, Lifestyle and Discretionary

B.     Essential and non-essential income

C.     Emergency funds, income funds & savings funds


3)     For client’s who have pension funds in excess of the Lifetime Allowance the potential for tax could be as high as?

A.     55%

B.     40%

C.     20%

D.     60%


4)     According to the PFS Drawdown good practice guide - Effective cashflow modelling should have what?

A.     Stress testing scenarios

B.     Stochastic modelling

C.     Determinist modelling

D.     Be independent


To claim your CPD certificate, click here

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