Income Drawdown Q & A: Everything you need to know about the Income Drawdown changes

Barnett WaddinghamIn our latest guest blog Andy Leggett from Barnett Waddingham looks at the recent changes to Income Drawdown and how they will affect you: Higher Drawdown Rates from 26 March 2013 In April 2011, the maximum pension that a member could drawdown as income was reduced from 120% of the equivalent annuity rate (set by GAD – the Government Actuary’s Department) to 100% of this rate. In George Osborne’s Autumn Statement, the Chancellor responded to pension industry concerns about ...

Income Drawdown: New Income Drawdown limit to be introduced sooner than expected

New Income Drawdown limit to be introduced sooner than expectedHMRC has announced that the new Income Drawdown limit, announced in George Osborne’s Autumn Statement, will be introduced sooner than expected. HMRC has said that the increase to the maximum income allowable from an Income Drawdown plan will be introduced from 26th March 2013, much sooner than many experts had thought would be the case. Income Drawdown changes The coalition government had previously reduced the maximum income pensioners could ...

Autumn Statement 2012: How will it affect your pension?

How will it affect your pension?As the dust settles on George Osborne’s Autumn Statement and the headlines give way to analysis of the detail, we thought we’d take a look at how your pension will be affected by the various announcements. The Autumn Statement contained three key changes regarding pensions; in our opinion were two negative and one positive. Let’s look at each one individually. Negative change #1: Lower Annual Allowance The Annual Allowance is the amount you can pay into your pension each year, whilst claiming tax relief ...

Income Drawdown: New report shows effect of falling gilt yields

A new report from MGM Advantage, a provider of retirement solutions, has shown just what a devastating effect falling gilt yields are having on the income of many Income Drawdown investors. Falling gilt yields and Income Drawdown Our advisers can help you make the right decisions The Investment Sense team of Independent Financial Advisers in Nottingham Contact our ...