Election 2010: Tories confirm plans to end 'obligation' to buy annuity at 75

The announcement was made in its manifesto - Your invitation to join government - and follows a promise made by George Osborne in a speech made at the British Museum in February. Plans to bring forward the date at which the state pension age starts to rise to 66 were also outlined - not be sooner than 2016 for men and 2020 for women. Under the Tories public sector pensions above £50,000 would be capped, and they promised to consult with the Independent Parliamentary Standards Authority on how to move away from the "generous" final-salary pension system for members of parliament. La...