Another Article
Source: Money Marketing http://www.moneymarketing.co.uk/1013862.article?cmpid=MME01&cmptype=newsletter
The Government will scrap compulsory annuitisation from April 2011 and will introduce transitional measures for those who have not secured a retirement income and reach age 75 in the meantime. A consultation on the detail of the proposal will kick-off shortly.
The Budget document states: “The Government will end the existing rules that create an effective obligation to purchase an annuity by age 75 from April 2011 to enable individuals to make more flexible use of their pension savings.
