AMPS starts e-petition over drawdown rules

Association of Member-directed Pension Schemes chairman Andrew Roberts launched the petition last week. In 2010, the coalition government consulted on reducing the amount that savers could take from their pension drawdown pots each year. AMPS said it argued against this reduction but the proposals were brought in anyway, with effect from April 2011. The petition read: "With a built-in reduction to drawdown rates of 20% to 25% regardless of investment conditions, pensioners are now being severely hampered in accessing their drawdown funds due to the combination of the rule change and p...