The GAD drawdown yield for August has been set 2.75%, up a quarter of a per cent on July, meaning drawdown pensioners can increase the amount of income they can take from their pot.
Standard Life said the yield rise will boost the income a 65-year-old can take from their drawdown pot by 3.5% compared to July. For a 65-year-old, with a typical £150,000 pot, this could unlock another £360 income this year. Head of income solutions Alastair Black said: "Drawdown is all about flexibility. A higher income limit gives more flexibility to dial income up or down to meet changing needs, so the rising yield is great news for drawdown users. "It's not about always taking the maximum income allowed, it's about having the flexibility to take more income when it's needed and r...
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