§ Mr. CoakerTo ask the Chancellor of the Exchequer what are the results of the review by the Inland Revenue of the income drawdown arrangements for annuities; and if he will make a statement. [120201]
§ Miss Melanie JohnsonChanges to simplify the administration of income drawdown where purchase of an annuity from a personal pension scheme has been deferred were announced in a press release issued on 7 April 2000 by the Department of Social Security and the Inland Revenue. These changes reflect representations made during the recent Inland Revenue review and will be implemented in the current Finance Bill along with amendments to secondary legislation.