I'm also with HL. I suggest you talk to them and ask what can be done.
Two possibilities to consider:-
Request a new GAD just after the March date. If your investments value is than at a peak or have increased, that will increase your income.
Change your drawdown date/frequency so you get the 120% figure after March.


As a general note, if you have a SIPP, you should always take the max possible out of it provided you are not in a 40% tax band, You can then put any unrequired money into other savings- ISA or VCT or CGT taxable product. Why? Simply because any money left when you (both) have died is taxable at 55%, and in the meantime you didn't get the benefit of it.
Far better to pay basic rate tax only.

I have been busy digging deeper into this for my wife and Iand it does look pretty insoluble.
you can only move out of a drawdown scheme to go into an annuity, nowhere else, so you
cannot "bed and breakfast" your drwdown by closing it and reopening it the next as anew one.
One interesting thing I found out which Ihad never been made aware of is that you can take
out 100% of your annual entitlement on day 1 if you want to and then have nowt for 364 days.
Which of course means you can re-invest it and get at least 3% more, conservatably.
Food for thought..........

The big question is, 120% of what? The bigger your pot the more your 120% will produce.
So why not turn some of your pot into your own choice of shares, because most of the funds that your drawdown is invested in are the same old top ten companies with very little growth and just relying on dividends.
If you look at the performance graphs of your funds since 2008, they all follow the same path downwards during 2008/2009, few of them stopped the decline and straight lined during the recession.
You can choose shares for growth, and that growth can be far more spectacular than your present funds can produce, plus you can turn them back into cash if things look bad or apply stop losses if you are concerned about the future.
Of course, there is one drawback. You have to put some effort in to learn the ropes, but, HL has a screen where you can have a fantasy share dealing account so there's no risk and there's a mountain of help and info on the net to help you.
Give it a try, it's not quite as difficult as you might think!

I disagree that you should always take the max drawdown from your SIPP when paying basic rate or no tax. It may be the case if you are single but if you have a partner then just put the proportion into drawdown that you need.Leave it invested in your SIPP if you do not need it. Why, because when one partner dies the spouse will receive any SiPP or part of it that has not gone into drawdown as a tax free payment with no 55% tax charge. Also your money left in a SIPP is in a tax efficient wrapper and to withdraw money with 20% tax to reinvest back into similar investments or 2-3% cash does not seem sensible. If you have a partner only withdraw what you need.

clark - no need to be so flippant....

Without actually saying so you perhaps allude to the most important aspect of SIPP management, namely investment performance.

Was that meant to be the gist of your post/