Treasury considers proposals

The Treasury is taking a fresh look at amending the rules on compulsory annuity purchase at age 75, writes Mohamed Ali Bernat. Last week a team from Winterthur Life, including chief executive John Finan and pensions strategy manager Mike Morrison, consulted with Treasury minister Melanie Johnson. Under current provisions, individuals of retirement age with their own provisions must purchase an annuity for their income by the age of 75, giving up their right to continue to manage the pension fund they have built up, and losing the ability to pass the fund down to their dependants on death....