Extension of draw-down relief for self-funded retirees Account based, allocated and market linked pensioners are currently allowed a 25% reduction in their required minimum payment amount. Levels were scheduled to return to normal on 1 July 2012, however, the Government has announced that draw-down relief will be extended for one more year. This means the current 25% reduction in minimum payment amounts will continue until the 2012-2013 financial year.

If you wish to know further information, contact Donna Lovegrove – donnalovegrove@kmwaccountants.com