Prudential halves minimum for investment in its income drawdown plan to £25,000

9th April 2014

Prudential has reduced the minimum investment for its drawdown offering from £50,000 to £25,000 following Chancellor George Osborne’s pension reforms.

Under interim changes announced in the Budget, the minimum income requirement for flexible drawdown was cut from £20,000 to £12,000 and the maximum income for capped drawdown raised from 120 per cent of GAD to 150 per cent.

Prudential has now halved the minimum investment for its Flexible Retirement Plan, a plan typically recommended through financial advisers.

 

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