The Treasury has set the flexible drawdown minimum income requirement at £20,000. This is part of the end to compulsory annuitisation that the government announced in July this year. The new minimum income requirement will go ahead from April 2011.
As part of the removal of compulsory annuitisation the government has also today published details of the changes it intends to introduce to remove the effective requirement to annuities by age 75 from 6 April 2011.
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