Pensions experts are disappointed the Government has not taken the opportunity to review the 75 year rule on annuity purchase in the Pre-Budget Report.
It was hoped the Government would move quickly to scrap the rule, at least temporarily, to prevent people having to buy annuities at a time when they will be severely affected by the current market turmoil. AIFA and the Conservative Party were among those calling for the end to compulsion. However, campaigners will have to wait longer for changes to be enacted. Matt Trott, head of annuities at LV=; comments: "It is hugely disappointing that the Government has not taken the opportunity to review the '75 year rule' concerning purchasing an annuity. "Not only does this rule effectively for...
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