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    3. why can the government restrict the level of drawdown on my private pension which has reduced my pension approx £3500 per year and how can they justify this and the massive problems this is causing me
    why can the government restrict the level of drawdown on my private pension which has reduced my pension approx £3500 per year and how can they justify this and the massive problems this is causing me

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    0  Views: 381 Answers: 2 Posted: 13 years ago
    Tags: private pensions
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      2 Answers

      Mainly the reason they can do it is that the people have allowed them to control their lives and some would be lost without their control. The more the government plays part in employment, housing, etc the more power they will take because who can say no to the person handing out the paychecks. Therefore, I guess they did not want your pension to outdo theirs or the ones they give out.

      13 years ago. Rating: 3
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        The problem is due to the poor interest rates of long-dated gilts. This is due to the 2008 banking crisis which was caused by the sub-prime mortgages leading to banks going bust, so blame the Americans.

        13 years ago. Rating: 2
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