Question: Q 1 . ( i ) . Describe one advantage and one disadvantage for Minerva in choosing a drawdown rather than an index - linked

Q1.
(i). Describe one advantage and one disadvantage for Minerva in choosing a drawdown rather than an index-linked annuity.
(ii).
Define the term net replacement ratio.(2 marks
(iii).
Describe gross replacement ratios and comment on which is the most generous when looking at retirement.

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