'Drawdown isn't always the best option for clients'
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Income drawdown may need to be delivered collectively to account for mass market demand, according to Legal & General Investment Management (LGIM).
Legal & General (L&G) is splitting its savings business in two and restructuring other parts of its L&G Assurance Society (LGAS) division ahead of the departure of the arm's chief executive John Pollock next May.
L&G's asset allocation team predicts the most likely date for an interest rate rise will be May 2015, despite a clash with next year's general election.