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Should the Treasury&#39s consultation on annuity reform look to scrap the compulsory purchase rule?

“Yes. People should be enabled to make their own choices on what to do with their money after they retire.”

Jamie Ansell,Ansell Griffin Neville

“Absolutely. They have got to give people more choice and more time to wait for rates to improve. There is too much restraining pensioners which is acting as a disincentive to those thinking about starting a pension.”

Chris Barker,The Apollo Partnership

“Yes, definitely. The demographics have made the age 75 limit of little relevance to today&#39s financial planning purposes.”

Mark Taylor,Ashcombe Financial Services

“Yes. People should be able to decide what they want to do with their money. Annuities are generally bad. The only party that benefits is the insurance company.”

Dinesh Kumar,Axle Financial Management

“Yes. I do not think that people have enough flexibility to do what they want with their money.”

Geoffrey Houghton,BAP Insurance Consultants

“Yes. I think it is unfair.”

Robert Barrow,Barrow Hazel & Co

“No. I do not think it should be scrapped. People know what they&#39re getting into and get a tax advantage from it.”

Steve Reeves,Blake Reeves & Co

“Yes, they should scrap it or at least extend it Annuity rates are diabol-ical. People have worked hard and the Government is clawing back enough tax from pension funds.”

Brian Murray,Bricar Investment Management

yes 88%

no 12%


Quester – Quester VCT 5

Tuesday, December 4, 2001.Aim: Growth by investing in unquoted companies.Minimum investment: £3,000.Opening-closing date: December 4, 2001-April 3, 2002 for 2001/2002tax year, May 31, 2002 for 2002/2003 tax year.Charges: Subject to negotiation.Commission: Initial 3 per cent.Tel: 020 7227 3333.

Peak practice

Pinnacle Insurance has introduced a healthcare cashplan for the mature end of the age spectrum. The Medex senior plan is available to anyone between 18 and 79 but the benefits are geared towards older people.The plan has five levels of cover with premiums from £1.50 to £12 a week. It includes benefits for a hospital […]

Portman adds £1bn to loan book with Sun Bank deal

Portman Building Society has completed the £95m acquisition of specialist lender Sun Bank from Sun Bank of Canada in a deal which adds almost £1bn to the society&#39s mortgage book.Sun Bank, with 75,000 customers and total assets of £1.2bn, will become the intermediary lending arm of Portman over the next few years as the society […]

Aegon direct-sales firm to be supermart

Aegon will be launching its new investment company selling direct to consumers as a fund supermarket.It is not yet known how many fund managers will be on the platform but Aegon hopes it will rival the likes of Ample.Aegon is in negotiations with managers about the proposition which is due to launch in the first […]

Happy while you work

Well we’ve had scorching weather (yes even up here in Scotland!) and now the Euros 2016 are on – you can’t blame people for wishing life was just one big holiday.  With all these distractions it sometimes feels like work just gets in the way of having a good time! But sunny day skivers are […]


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