Pension Schemes – Consultation on removing the requirement to annuitise by age 75Monday, July 19th, 2010
The Government announced at the June Budget that it will end the effective requirement to purchase an annuity by age 75 from April 2011. On 15 July, HM Treasury published a consultation document that sets out proposals to simplify the treatment of retirement savings and reduce complexity for individuals and for pension and annuity providers.
This consultation sets out the Government’s proposals and invites comments on all aspects of the proposed new rules. The consultation will last eight weeks, ending on 10 September 2010.