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02 Mar 09 Pension drawdown relief for retirees factsheet

On 18 February 2009, the Government announced that it will suspend the minimum payment requirement for account-based pensions for the second half of 2008-09. This will be achieved through a 50% reduction in the minimum payment amounts that would otherwise apply for the 2008-09 financial year. Treasury has now published a factsheet on the subject. For a copy of the factsheet, go here.

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