Safeguarding the income of an ageing society

We disagree with criticism that the government’s new pension rules – flowing from its consultation on scrapping compulsory annuitisation age 75 – benefit only the wealthy. They are good news for the consumer and for financial advisers. In particular, it is refreshing to see a government actually acknowledging that retirement planning and the options available are changing, as the government’s proposals allow a greater degree of flexibility in retirement planning than is currently allowed. This could play an important role in encouraging people to save for their retirement. For example...