Will we see income drawdown reform?

Helen Morrissey examines the pressure on the government to tackle drawdown

Helen Morrissey
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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 ca...

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