Income Drawdown

A J Bell chief executive has sent an open letter to government calling for action on unnecessary income drawdown obstacles for pension savers.

Retirement Planner's round-up of the top pension stories this week.

The 2% floor in gilt rates, set by HM Revenue & Customs in 2011, should be lifted to 3% or 4% to ease financial pressure on pensioners in drawdown, a provider has said.

Nine out of ten advisers report clients using income drawdown are worried about their income potentially falling by as much as 55%, a poll has found.

Advisers with clients in income drawdown should review all such arrangements now to get "ahead of the game" before any potential regulatory intervention, a provider says.

Retirement Planner's round-up of the top pensions stories this week.

A number of pensioners in income drawdown who have seen their payments fall by up to 50% have complained of potential adviser ‘mis-selling', a provider has said.

FIVE THINGS

The government should consider introducing a "cap and collar" agreement on the Government Actuary's Department (GAD) rates which are used in drawdown calculations, a provider says.

With the fixed protection deadline fast approaching Adrian Walker explains some less obvious considerations that advisers need to bear in mind when assessing whether their clients should apply for fixed protection.