The FCA has warned that some consumers who choose to take pensions drawdown without advice are failing to engage with the process and are risking financial “harm.”

Scottish Widows has unveiled four ‘risk-managed’ multi-asset Retirement Portfolio funds aimed at clients considering or taking withdrawals using the Scottish Widows Retirement Account.

Synaptic Software, the research software provider for financial advisers, has launched Synaptic Analyser, a retirement income analysis and drawdown product comparison tool.

The number of retirees opting for income drawdown has more than trebled since the introduction of pension freedoms, new figures show.