Govt urged to conduct drawdown policy review

The open letter, sent by Andy Bell to financial secretary to the Treasury Mark Hoban, states that obstacles related to income drawdown affect thousands of investors, with many experiencing reductions in drawdown income of between 30% and 50%. Bell requests that the government carries out a policy review as to whether gilt yields and actuarial principles remain the most appropriate way to set drawdown limits.  He also says the government should immediately re-instate the 20% uplift on drawdown calculations removed from 6 April 2011. Bell said in the letter: "I totally support the pr...