Although the term ‘drawdown pension’ was introduced with effect from 6 April 2011, it is simply a renaming of the terms ‘unsecured pension’ and ‘alternatively secured pension’ which applied before that date. (Any unsecured pension year or alternatively secured pension year which began on or after 7 April 2010 is regarded as a drawdown pension year from 6 April 2011 (FB 2011, Sch. 16, para. 97 and 100).).
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