§ Mr. CousinsTo ask the Secretary of State for Work and Pensions whether he will allow annuity holders(a) to draw down the assets and (b) to set up phased annuity schemes for the purposes of assessing entitlement to the proposed pension credit. [26019]
§ Mr. McCartneyIncome drawdown plans may be taken out by personal pension fund holders, but most drawdown providers generally only recommend this option for people with significant funds. Personal pension savings may be split in parts and annuitised separately. Income and potential income from private pensions will be relevant for the purposes of assessing entitlement to pension credit.