Bell tolls for Pensions Bill

The biggest, and perhaps unlikeliest headache stemming from the Bill this week has been an amendment proposing a raise in the age limit for compulsory annuities. This part of the legislation has been heavily debated, moving back and forth between the Commons and the Lords for approval. The legislation as previously stated forced private pension savers to use three-quarters of their pension savings to purchase an annuity by the age of 75. Peers' proposals to change the status quo, led by Lords Higgins(C)and Oakeshott(Lib Dem), sought to raise the age limit from 75 to 85. The target...