Pensioners need £20K to access flexible drawdown; IFAs to incur training costs

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Access to new flexible drawdown pensions will be restricted to people with a lifetime pension income of a minimum of £20,000 a year, the Treasury says.

The rule change is included in a package of draft clauses published today by the Treasury for inclusion in the Finance Bill 2011. Capped drawdown amounts will be determined using GAD rates every...

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