Drawdown rule change date 'will confuse clients'

Last week, the Treasury announced pensioners will be able to remain in income drawdown indefinitely, subject to regular reviews of their fund. Pensioners will also be able to use flexible drawdown, in which they can withdraw any funds providing they also have a secure yearly income of £20,000. However, Mackay says the government's decision to bring in a single date after which investors must move to the new system of drawdown, rather than a window of a few years, means many savers will be left in a confusing position. "When the last major round of changes was introduced, the govern...