GAD rates
These are a key part of calculating the maximum permitted annual capped drawdown pension income a member can draw and are set out in the Government Actuary’s Department (GAD) 2011 Drawdown Pension Tables, which were extended in February 2017. GAD rates are unisex rates.
The maximum annual capped drawdown pension income is determined with reference to the value of the member’s fund that is being used for capped drawdown (‘capped drawdown fund’), the member’s age and the relevant GAD rate.
The relevant GAD rate, which will depend on the UK medium/long dated gilt yield at that time, is used to calculate the amount of ‘basic pension’ that can be drawn for each £1,000 of the member’s capped drawdown fund. For example, if the GAD rate for a member is £53 per £1000 and their capped drawdown fund is £100,000, their basic pension would be £5,300 p.a. This is then uprated by 150% to give a maximum capped drawdown pension income of £7,950 p.a., which will need to be recalculated every three years up to age 75 and annually thereafter.
For more information please view the Gov.UK website.
Government Actuary’s Department (GAD) table | ||||
November 2024 - 4.25% | December 2024 - 4.50% | |||
Age | £ | Age | £ | |
---|---|---|---|---|
23, 24, or 25 | 44 | 23, 24, or 25 | 46 | |
26 | 44 | 26 | 46 | |
27 | 45 | 27 | 47 | |
28 | 45 | 28 | 47 | |
29 | 45 | 29 | 47 | |
30 | 45 | 30 | 47 | |
31 | 45 | 31 | 47 | |
32 | 46 | 32 | 48 | |
33 | 46 | 33 | 48 | |
34 | 46 | 34 | 48 | |
35 | 46 | 35 | 48 | |
36 | 47 | 36 | 49 | |
37 | 47 | 37 | 49 | |
38 | 47 | 38 | 49 | |
39 | 48 | 39 | 50 | |
40 | 48 | 40 | 50 | |
41 | 48 | 41 | 50 | |
42 | 49 | 42 | 51 | |
43 | 49 | 43 | 51 | |
44 | 50 | 44 | 51 | |
45 | 50 | 45 | 52 | |
46 | 50 | 46 | 52 | |
47 | 51 | 47 | 53 | |
48 | 52 | 48 | 53 | |
49 | 52 | 49 | 54 | |
50 | 53 | 50 | 55 | |
51 | 53 | 51 | 55 | |
52 | 54 | 52 | 56 | |
53 | 55 | 53 | 57 | |
54 | 55 | 54 | 57 | |
55 | 56 | 55 | 58 | |
56 | 57 | 56 | 59 | |
57 | 58 | 57 | 60 | |
58 | 59 | 58 | 61 | |
59 | 60 | 59 | 62 | |
60 | 61 | 60 | 63 | |
61 | 62 | 61 | 64 | |
62 | 63 | 62 | 65 | |
63 | 65 | 63 | 67 | |
64 | 66 | 64 | 68 | |
65 | 68 | 65 | 70 | |
66 | 69 | 66 | 71 | |
67 | 71 | 67 | 73 | |
68 | 73 | 68 | 76 | |
69 | 75 | 69 | 78 | |
70 | 77 | 70 | 81 | |
71 | 80 | 71 | 83 | |
72 | 82 | 72 | 84 | |
73 | 85 | 73 | 87 | |
74 | 88 | 74 | 90 | |
75 | 92 | 75 | 93 | |
76 | 96 | 76 | 97 | |
77 | 100 | 77 | 102 | |
78 | 105 | 78 | 107 | |
79 | 111 | 79 | 112 | |
80 | 117 | 80 | 118 | |
81 | 123 | 81 | 125 | |
82 | 130 | 82 | 132 | |
83 | 138 | 83 | 140 | |
84 | 147 | 84 | 148 | |
85 or over | 156 | 85 or over | 158 |