Autumn Statement: A game of two halves?

Hornbuckle Mitchell's technical consultant, Lisa Webster has described the Autumn Statement as "a game of two halves for pension investors." Early reaction shows industry has been largely surprised by the reinstatement of the drawdown GAD limit to 120% and disappointed with the reduction of tax relief. Since 2011, calls to raise drawdown limits have been popular since government lowered the GAD limit from 120% to 100%. On one side, advisers were vocal as clients faced falls income falls up to 40% due to the GAD limit reduction, tumbling investment markets and decreasing gilt yields. ...