Follow the Mounties on pensions says Rirc

McDonald says the UK should adopt such a system; successfully entrenched in Canada for the past twenty years. Not only does the model give individuals a choice whether to purchase annuities, but also awards the extra option of drawdown income at a sustainable level, which allows their pensions to form part of their estates on death, subject to taxation. Rirc has submitted a report to the Pensions Commission in time for the UK Pensions Experts Conference called by Adair Turner for next week, and is calling on policymakers to devise methods of encouraging consumers to take up individual s...