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Opposition parties renew pressure on annuities

The Government has come under pressure again from the opposition ranks to make a move towards relaxing the annuity rules.

Conservative MP David Curry has tabled a private member&#39s bill which would replace the existing annuity regulations.

It would retain the tax free lump sum attached to annuities, compel pensioners to buy an index-linked annuity that will provide them with a minimum income and then allow them to spend the remainder of their pension pot as they choose.

Liberal Democrat trade and industry spokesman Vincent Cable has also taken action in putting forth an early day motion calling on the Government to launch a full review of the annuity situation.

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