Proposed end to inflation indexing of annuities finds support

The government should go further and amend the Pensions Bill, currently going through its second reading, to end all prescriptive benefits resulting from contracting out of the second-tier pension, the Bureau says. "Inflation proofed annuities may be suitable for some, but it is certainly not suitable for all, so the Government is sending out all the right signals," says Bureau managing director Peter Quinton. True consumer choice should be just that, rather than forcing pensioners to purchase "inappropriate annuities". Pensions minister Malcolm Wicks earlier this week stated the go...