120% max GAD limit reinstated in Autumn Statement

The limit had previously been decreased to 100% maximum GAD after the introduction of flexible drawdown last year. However, over the past twelve months clients undergoing income reviews had seen their incomes fall by as much as 40%. The decrease in maximum GAD played some part in this decrease along with volatile investment markets and poor gilt yields. SIPP provider AJ Bell lobbied the Treasury earlier in the year to reinstate the 120% maximum and launched a campaign encouraging clients and their advisers to lobby their MPs about the situation. Andy Bell CEO of AJ Bell said: "Th...