DAVID WILLETTS MP, shadow secretary of state for work and pensions, will tonight announce Tory plans to scrap the three-quarters pension rule towards a compulsory annuity, says this morning's Daily Telegraph .
If the Conservative party is elected into government at the next election, Willetts will get rid of the requirement to spend at least three-quarters of a person’s pension on an annuity and instead issue longer-dated gilts which could then reduce the “longevity risk” of the existing regime. Willetts is expected to repeat the Conservative’s pledge to restore the link between state pensions and earnings inflation in a bid to lift 1m people out of means-tested benefits. BILLIONAIRE entrepreneur Philip Green, should get the pensions information he needs to launch a bid for Marks & Spencer ...
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