Are you aware of new UK pension legislation that came into force on 6th April 2011 which could reduce your pension income by 20%? If you are currently in drawdown with your UK pension scheme the maximum income available to you at your next review date will be 100% of GAD (Government Actuarial Department) rates. Prior to this change the maximum income level was 120% of GAD. This, together with dramatically reduced GILT rates will lead to a substantial drop in income which could be more than 20%. Don’t leave it until your next review date before finding out that your income will drop substantially. We can check your current situation and advise you accordingly on your best course of action.
Contact us for more information – we cover a vast area geographically and are happy to organise a meeting either at our office or at a place convenient to you.