Call for the government to reform Income Drawdown rules

One of the pension industries leading SIPP (Self Invested Personal Pension) providers has urged the government to rethink the recently introduced rules governing the maximum income which can be taken from an Income Drawdown plan. AJ Bell has called for the government to reverse changes to the Income Drawdown rules which has seen the levels of income available to pension savers fall. Income levels The changes introduced by the government in April have reduced the maximum level of income which can be taken by someone in Income Drawdown from 120% of the GAD (Government Actuarial Department) limit to 100%. The GAD rate is set ...