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 |
| 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.