Will we see income drawdown reform?
Helen Morrissey examines the pressure on the government to tackle drawdown
Retirees in income drawdown have had a miserable time of late. Volatile investment markets, record low gilt yields and a reduction in maximum income means many face significant drops in income when they have their next review. Reductions of 40 or even 50% have been widely reported.
Providers such as AJ Bell have called for change. Chief executive Andy Bell has lobbied the Treasury to reinstate the 120% maximum GAD limit and has asked whether gilt yields are the best way to calculate...
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UK mandatory pension provision half OECD average
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