New rules "could see pensioners breaking law"

Scottish Equitable's pensions development director Stewart Ritchie says investors close to the age of 75 will need to think carefully about investing in property, as there will still be a requirement to put assets into an alternative secured income amd claim an income. Ritchie suggests fund managers looking after pension scheme assets could effectively leave retirees with no income for up to two years - even though they are and will be still be required to take some kind of income at age 75 - as managers dealing with residential property could reserve the right to impose a waiting period...