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 |
| 2025 | 4.50% | 5.00% | 4.75% | 4.75% | 5.00% | |||||||
| 2024 | 4.00% | 4.00% | 4.25% | 4.25% | 4.50% | 4.25% | 4.25% | 4.25% | 4.00% | 4.00% | 4.25% | 4.50% |
| 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.
Disclaimer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.