Minimum Pension Reduction – 30 June 2020 & 30 June 2021

The government has halved the minimum pension drawdown requirements for the 2019-2020 and 2020-2021 financial years.  The reduced pension drawdown requirements are aimed at helping preserve the capital in an individual’s pension account. This halving of the minimum pension annual drawdown requirement applies to individuals with account based pensions, allocated pensions or market linked pensions…