Annuity abolition

There are few issues in the pensions world that unite as many people as the need to abolish the compulsion to buy an annuity at age 75. But before looking at this subject in detail, it is worth making a couple of points. For the vast majority of people, annuity purchase will be the right option, security of income is the main factor. However, for those for whom income drawdown is a suitable product, why should it have to cease at age 75? Surely choice is essential? Up until 1995, people were required to buy an annuity from all personal and most occupational pension schemes. But falling a...