Each month, we ask leading industry figures to answer one big question... How well prepared do you feel the industry is for the advent of capped and flexible drawdown?
Adrian Walker is head of retirement planning at Skandia The short time span from the government announcing the changes to the implementation date of 6 April has presented a challenge. The delay in providing GAD tables applying from that date has given providers very little time to implement the changes to capped income levels. It will not only be clients moving into income withdrawal for the first time on or after 6 April, but those whose current five-year income periods will end at or shortly after that date and who will be subject to the new income factors. Many providers wil...
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