Flexible drawdown: Ten things you need to know

Conditions The legislation on flexible drawdown amends sections 165 and 167 of the Finance Act 2004 so that the new drawdown pension maximum limit of 100% does not apply if: • the individual meets the flexible drawdown conditions, and • the individual makes a valid declaration to the scheme administrator to that effect, and • the declaration is accepted by the scheme administrator. Timing One of the requirements for an individual to meet the flexible drawdown conditions for an arrangement is that they satisfy the minimum income requirement at the relevant time. The relevant time simp...