In exactly the same way as consumers check their banks accounts for their salary, consumers using platforms want to be able to see their investments quickly, easily and at a time that suits them.

Zurich's analysis of consumers in drawdown found that almost two-thirds, or 61 per cent, check the performance of their drawdown investments at least once every six months and more than half of those check the values every two to three months.

Markets have, broadly, been kind to newcomers into drawdown in the past three years but when volatility strikes, an ever increasing number of retirees will want to understand the impact on their savings.

Ensure the facility for taking income is dynamic and can be easily and quickly triggered - make sure this doesn’t trigger new fees/charges from the provider.

Whatever plans advisers decide to deliver for their clients, future flexibility in the delivery of income is essential - a dynamic income facility, if you like.

Whether it is reducing or increasing income, taking an ad hoc withdrawal, setting up a rebalance or carrying out a fund switch, controlling costs in drawdown is important all of the time, not just during a market downturn.

Watch out for the ad hoc costs from some providers. They will eat into your client’s income and could even influence the future decision-making process.

Drawdown has given hundreds of thousands of retirees greater freedom and flexibility in retirement.

It has transformed the retirement landscape, with twice as many people now choosing drawdown over an annuity.

However, those who fail to adjust for market fluctuations risk burning through their retirement pot too soon.

Raising awareness around the risks and promoting sustainable withdrawals is critical to ensuring a decent, lifelong income for clients. 

Alistair Wilson is head of retail platform strategy at Zurich