Preserving the golden age of annuities

We congratulate the Government on its consultation, Scrapping Annuities Age 75, which provides a range of retirement funding options to meet its objectives of ‘making savings…more flexible and attractive in order to encourage people to take greater responsibility for their financial future’. However, there are significant issues it must address or at least one golden opportunity may be lost. First, the continuing and enduring benefits of annuities must not be overlooked. For many people in retirement, an annuity, which provides a guaranteed income for life, will be the best product. The ...