The debate over temporarily abolishing the age 75 rule clouds the real issues affecting UK pensioners, according to Craig Fazzini-Jones, director and head of MGM Advantage Designs for Retirement.
He said that a blanket rule change was not helpful for two reasons. He explained that the average pensioner wasn't in a position to wait until age 75 to start receiving an annuity and that many people needed their retirement income at an earlier age. Fazzini-Jones concluded: "For these reasons and more, we must encourage people to shop around for their retirement income. We also believe it would be prudent for policymakers to educate pensioners about the open market, because two-thirds are still losing out. Moreover, the majority of pensioners will be better off in retirement if they see...
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