The government has indicated it will make no changes to help Income Drawdown investors faced with cuts to their annual incomes.
Income Drawdown, or Capped Drawdown as it is now more properly known, allows retirees to draw directly from their fund albeit with a cap on the annual income which can be taken. The maximum allowable income is set by the Government Actuary Department and as is often known as the GAD rate.
GAD rates for Income Drawdown investors
The GAD rate is linked to your gender and the 15 year gilt rate, which over recent months has fallen significantly, resulting ...