Capped Drawdown

Existing arrangements will come under the new regime with effect from the 6th April 2011. The impact of the new ‘Capped Drawdown’ limits will affect existing arrangements in different ways depending upon when 75th birthday falls, so if it falls:

  • On or after the 6th April 2011, the new limits apply from the start of their next reference period to begin on or after that date;
  • Before 6th April 2011, from the start of the drawdown pension year in which the 6th April falls. (This is not likely to be a large number of people in our opinion). Except for those who:
  • Between 22nd June 2010 and 5th April 2011, the changes will have effect from the start of their next drawdown pension year to begin on or after 6th April 2011.

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