Providers expect govt review of RPI-linked MIR ban

The current draft of the Finance Bill, which has yet to become law, says the MIR for flexible drawdown must be guaranteed for life, meaning annuities linked to RPI cannot be used in case inflation drops. However, both AJ Bell and Hornbuckle Mitchell have said the Treasury is likely to review this stance. "The point of the MIR is that it is the level of income that the government believes is high enough so that retirees will never need to fall back on state benefits in the future," said Lisa Webster, senior technical consultant at Hornbuckle Mitchell. "This has been set at £20,000 f...