In this month's Ask the Expert, Mike Morrison discusses the potential issues surrounding the new flexible drawdown regime
On 9 December 2010, the final details of the proposed new drawdown regime for April were announced. The capped drawdown regime was pretty much as we expected and a logical extension of the unsecured pension which we have come to know and love. More interesting is the idea of flexible drawdown, and I must admit I was surprised that the proposal is for it to commence this year. A straightforward concept The concept of flexible drawdown is straightforward: secure a prescribed minimum income level and you have the freedom to use the rest of the fund as you think fit, subject to the...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
