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...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
