Call to scrap age 75 rule neglects majority - Just Retirement

This week, the IMA said the rule acts as a “barrier to diversification” and “prevents choice and product innovation”. Instead it suggested various drawdown strategies; withdrawing a fixed percentage a year rather than a fixed amount and withdrawing a fixed value a year with the option to withdraw larger amounts a year than a standard annuity. However, Just Retirement says the proposal raises concerns about the strategies’ complexity and fails to recognise enhanced and impaired annuities. Nigel Barlow, head of retirement income solutions at Just Retirement, says: “Flexibility and increased...