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Pension experts recommend caution over annuity purchases

Pension experts are warning pension savers to sit tight and carefully examine their options, before taking any investment decisions.

It warns those policyholders about to take benefits should consider deferring their annuity purchase through income drawdown and that the effect of tragedies are an extraordinary example of why compulsory annuity purchase at age 75 needs to be reviewed.

Legal & General pensions marketing manager Andy Agar says: “For those saving for retirement the message is sit tight and don&#39t make any hasty decisions. For those who have no choice but to buy an annuity in the next couple of months, this unfortunately illustrates why the age 75 rule needs looking at.”

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