The compulsion to purchase an annuity by age 75 has been enshrined in legislation for many years. Bu...
The compulsion to purchase an annuity by age 75 has been enshrined in legislation for many years. But as a result of low interest rates and improving life expectancy, a bandwagon is rolling to remove the compulsion for annuity purchase. Bear in mind that over many years, the Pension Scheme Office (PSO) has always seen a pension scheme as a means of securing retirement benefits. Our industry has seen pensions as tax-planning tools, providers of bank loans, property investment vehicle ' basically anything but a means of securing retirement benefit. Before we go further into this debate, w...
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