Flexibility: The key to retirement

Compulsory annuitisation at age 75, an archaic piece of legislation, has been scrapped to much relief, with ‘Age 77’ being the transitional solution until the Government publishes draft legislation in advance of Budget 2011. The concept of forcing people to secure an income by a particular age is outdated and does not offer the flexibility those approaching retirement need, let alone the generations who will follow them. The Government has recognised that retirement has fundamentally changed. It is now a phased process; the ‘at work one day and not the next’ progression has disappeared f...