Drawdown transfer U-turn will be a 'damp squib'- Skandia

In March HMRC relaxed rules to allow clients who undertake drawdown reviews every five years to retain their current maximum annual income for the remainder of their review period if they choose to transfer their drawdown fund. The number of clients affected is limited to those who went into drawdown between April 2010 and April 2011. Some will see no significant difference in their income levels though some will be worse off. For instance, women could potentially benefit from a higher income as a result of gender neutrality by taking an earlier review. However, if their new provider ...