HMRC grants more flexibility for drawdown reviews

Investors aged 75 and over using capped drawdown must have a review of their income levels every year to prevent withdrawing their funds too quickly. However, investors who began withdrawing different tranches of their drawdown fund at different times will find their pension review dates are different for each tranche. This means an investor with five different tranches in drawdown would have to have five reviews per year. This can happen when investors begin withdrawing their pensions under various pension schemes with different anniversary dates, and then later combine all of the...