Peter Carter looks at how the income drawdown market has developed over the past two years and assesses how it can be used to meet clients' retirement income needs
We're now over two years since 'simplification', so now is a good time to review what has happened to the retirement landscape, particularly as far as drawdown is concerned. There were three main changes in legislation which affected income drawdown. The changes were: Move to five yearly reviews from three yearly ones; Change in income limits to reduce the minimum income to zero and increase the maximum to 120% of the level of a fixed annuity; Introduction of post-75 drawdown, now called alternatively secure pension (ASP). The first change hasn't made much difference at all in rel...
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