Govt set to further relax forced annuitisation

Head of pension research at Hargreaves Lansdown, Tom McPhail, says the Treasury is poised to make a "radical" change to the current requirement to purchase an annuity by age 77. At the very least, the firm expects the age individuals must buy an annuity to rise for the second time in less than a month. But it says much more likely is the removal of the "arbitary" age cap altogether, allowing investors to draw down income "indefinitely". The move would build on an interim statement made in the June Budget which pushed the annuitisation age up from 75 to 77. But Hargreaves says a...