House of Commons to discuss annuity bill - papers 30th June

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A PRIVATE members' Bill is being presented to one of the House of Commons select committees on Wedne...

A PRIVATE members' Bill is being presented to one of the House of Commons select committees on Wednesday, arguing for the abolition of compulsory annuity purchase at retirement, reports the Daily Telegraph. Edward Garnier, Conservative MP for Harborough, has already managed to get his Retirement Income Reform Bill with crossparty support through two readings with cross-party support, but there could be problems now as he is proposing pensioners be required to buy enough annuity income to stay off state benefits, and then spend the rest as they like. Stats offered the Telegraph sug...

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