Post-age 75 drawdowns to be reduced by almost half

pensions

Pensioners moving into post-age 75 drawdown will see their maximum income limit fall almost 40% unde...

Pensioners moving into post-age 75 drawdown will see their maximum income limit fall almost 40% under tables published by the Government last week. Women generally fare better in the changes to drawdown levels post-A-Day, with all ages up to 71 able to withdraw more money from pension schemes after 6 April 2006. Males only benefit from the Government Actuary's Department's (GAD) amended tables if they are under 60, with all ages from 61 to 75 able to draw down less income than at present from next April. Drawdown limits in the post-A-Day regime are set at 120% of relevant annuity rates ...