Each month we ask leading industry figures to answer one big question... What impact do you feel changes to the Age 75 rule will have on the retirement planning industry?
Philip Brown is head of retirement products at Partnership Removing the age 75 rule has a number of effects on both the industry and the consumer. For the industry it will change the dynamics of the consumers using annuities and could potentially have profound impacts on the rates offered. For the consumer the current generation of people at retirement is predicted to have a far greater life expectancy than previous generations (this is particularly so among the oldest cohorts where over the next 20 years people aged over 85 are predicted to increase by over 60% and people aged...
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