The minimum drawdown requirements for account-based pensions and similar products have been reduced by 50% in 2020-21.

Minimum Pension Amounts

If you have already drawn down more than the required minimum, any deposits into your fund will be treated as a contribution under normal contribution rules.

Age Default minimum
drawdown rates
2020-21 reduced
rates
Under 654%2%
65-745%2.5%
75-796%3%
80-847%3.5%
85-899%4.5%
90-9411%5.5%
95 or more14%7%

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