There is little doubt that drawdown is an advised event. The vast majority of business in our survey is advised, testament to the work put in behind the scenes by IFAs to guide clients through a happy retirement.

But it is not all plain sailing in the income drawdown world. Constant tinkering with the rules has left providers and clients confused, with operators taking various approaches to new legislation. Poor investment performance has left some wondering whether drawdown remains the right choice, although annuities do not look much better.

And several big-name providers still do not offer flexible drawdown. Despite its having plenty of time to bed in, some still remain reticent to offer this more bespoke option.

MM’s brand new income drawdown survey looks at all the key aspects of the market: who offers what? How much are they charging? It also considers the impact of Gad changes and how this is affecting clients on the ground.