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Revisit Pension Drawdown Rules - Official Industry Petition

In 2010, the Coalition Government consulted on reducing the amount that savers could take from their pension drawdown pots each year.

The Association of Member-directed Pension Schemes argued against this reduction but the proposals were brought in anyway, with effect from April 2011.

With a built-in reduction to drawdown rates of 20 - 25% regardless of investment conditions, pensioners are now being severely hampered in accessing their drawdown funds due to the combination of the rule change and poor investment conditions.

The industry has called for a revisit of these rates as we are taking calls daily from concerned pensioners. This petition requests that the Governement reverts back to the 120% rate as a precursor to a root and branch review.

This e-petition has been set up by the Chairman of AMPS with a view to seeking support from those affected by reduced drawdown income.

You can't sign this petition because it has now closed. But you can still give your opinion on it here at Repetition.me!
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Signatories

218

Currently ranked 5,354 out of 103,944 petitions ever created.

Diversity index: 100%

Status

Closed

Created By

Andrew Roberts

Created On

Thursday 4 October 2012

Closing Date

Saturday 5 October 2013

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