179 - Pension income options - Annuity versus Drawdown

As a highly regarded financial adviser and an industry expert with over 30 years’ experience, Billy Burrows first joined me in 2019 to chat about all things to do with annuities.
Since we last spoke the annuity landscape has changed significantly and has become harder to beat as a solution for pension income. So, I welcome Billy back to talk about the pros and cons of buying an annuity versus entering pension drawdown to help you decide the best way to provide an income in your retirement.
Billy believes that many people are unknowingly throwing income down the drain due to a lack of understanding. Intuitively people may think that drawdown is the “best thing since sliced bread”. But, in reality, and especially now that interest rates and bond yields have increased, an annuity is actually a very hard act to beat!
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⚠️ This video is for information and entertainment only. Nothing on this channel constitutes financial advice. Please do not make any decisions based on the contents of my videos; seek professional independent financial advice first!

[@robertthompson3814]

This seems like a pretty blatant to push to sell annuities. There was only a minor discussion of inflation, no discussion of real return, and no discussion of risk of the company going belly up. I would also have liked to see some discussion of do it yourself annuities which is the direction I am going toward in retirement.

[@docastrov9013]

The BBC case. Can someone give cash to a stranger with no tax implications? That's what the HMRC website seems to say. Only tax paid on any interest it generates. Why does anyone pass CGT able assets when cash has zero tax?