Treasury confirms income drawdown rumours are untrue

The Treasury has confirmed rumours that it will launch a consultation on income drawdown limits are untrue.

The statement comes after Legal & General pensions strategy director Adrian Boulding claimed he was told by a source close to the situation that the Treasury will consult on the limits imposed on drawdown in April 2011 on Friday 16 November. However, since initially making his claim, Boulding has said his source had confused income drawdown with a set of PAYE regulations which are due for consultation. A spokesman said the Treasury works openly with stakeholder groups on all aspects of pensions policy and said the drawdown limits had been discussed in this context, but that there will...