GAD interest rates

Find details of GAD Interest Rates dating back to 1996.

The amount a person can withdraw from their pension pot, if they're in a capped drawdown pension, is determined by the Government Actuarial Department (GAD). GAD rates are tied to 15-year GILT yields and change monthly. As the rate is also dependant on age, the GAD rate will differ for everyone based on these factors.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2024 4.00% 4.00% 4.25% 4.25%                
2023 3.50% 3.50% 3.75% 3.50% 3.75%  4.00% 4.50% 4.50% 4.75% 4.50% 4.50% 4.25%
2022 0.75% 1.25% 1.50% 1.75%  2.00% 2.00% 2.50% 2.50% 2.25% 3.25% 4.50% 3.50%
2021 0.50% 0.50% 0.75% 1.00%  1.00%  1.25% 1.00% 1.00% 0.75% 0.75% 1.25%  1.00%
2020 1.00%  1.00% 0.75% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50%
2019 1.50% 1.50% 1.50% 1.50% 1.50% 1.25% 1.00% 1.00% 0.75% 1.00%  1.00%  1.00% 
2018 1.50% 1.50% 1.75%  1.75%  1.75%  1.75%  1.50%  1.50%  1.50%  1.75%  1.75%  1.75% 
2017 2.00% 2.00%  2.00%  2.00%  2.00%  2.00%  1.50%  1.75%  1.50%  1.75%  1.75%  1.50%
2016 2.25%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00%  2.00% 
2015 2.00% 2.00% 2.00% 2.00% 2.00% 2.25% 2.25% 2.50% 2.25% 2.25% 2.00% 2.25%
2014 3.25% 3.25% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 2.75% 2.75% 2.25%  2.50%
2013 2.25% 2.50% 2.75% 2.50% 2.25% 2.25% 2.50% 2.75% 3.00% 3.25% 3.00% 3.00%
2012 2.50% 2.25% 2.50% 2.75% 2.50% 2.25% 2.25% 2.00% 2.00% 2.25% 2.00% 2.00%
2011 4.00% 4.00% 4.25% 4.00% 4.00% 3.75% 3.75% 3.50% 3.25% 2.75% 3.00% 2.50%
2010 4.25% 4.25% 4.50% 4.50% 4.25% 4.00% 4.00% 3.75% 3.50% 3.50% 3.50% 3.75%
2009 4.00% 3.75% 4.00% 3.25% 3.75% 4.00% 4.00% 4.00% 4.00% 3.75% 3.75% 4.00%
2008 4.75% 4.25% 4.50% 4.25% 4.50% 4.75% 5.00% 4.75% 4.50% 4.50% 4.75% 4.50%
2007 4.50% 4.50% 4.50% 4.50% 4.75% 4.75% 5.25% 5.25% 4.75% 4.75% 4.75% 4.50%
2006 4.00% 3.75% 4.00% 4.25% 4.25% 4.50% 4.50% 4.25% 4.50% 4.25% 4.50% 4.25%
2005 4.25% 4.50% 4.50% 4.75% 4.50% 4.25% 4.25% 4.25% 4.25% 4.00% 4.25% 4.25%
2004 4.75% 4.50% 4.50% 4.75% 4.75% 5.00% 5.00% 5.00% 4.75% 4.75% 4.50% 4.50%
2003 4.50% 4.50% 4.25% 4.25% 4.50% 4.25% 4.00% 4.50% 4.50% 4.50% 4.75% 4.75%
2002 4.75% 4.75% 4.75% 5.00% 5.00% 5.25% 5.00% 4.75% 4.50% 4.50% 4.50% 4.50%
2001 4.50% 4.50% 4.50% 4.50% 4.75% 5.00% 5.00% 5.00% 4.75% 4.75% 4.75% 4.50%
2000 4.75% 5.25% 5.00% 4.75% 5.00% 5.00% 4.75% 4.75% 5.00% 5.00% 4.75% 4.75%
1999 4.50% 4.50% 4.50% 4.75% 4.50% 4.75% 5.00% 5.00% 5.00% 5.25% 5.25% 4.50%
1998 6.25% 6.00% 6.00% 6.00% 5.75% 5.50% 5.50% 5.75% 5.50% 5.00% 5.00% 4.75%
1997 7.75% 7.50% 7.00% 7.25% 7.50% 7.00% 7.00% 7.00% 7.00% 6.75% 6.50% 6.50%
1996 7.75% 7.75% 7.75% 7.75% 8.25% 8.25% 8.25% 8.00% 8.00% 8.00% 7.50% 7.75%

Further information can be found in HMRC GAD tables.