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Working party boosts plan to scrap compulsory annuities for 75 year olds

The Retirement Income Working Party has added its weight to the campaign to scrap compulsory annuities for 75 year olds.


In a report out next week, The Retirement Income Working Party argues only investors with total pension incomes of less than £140 a week should be forced to buy an annuity.


Current legislation demands retiring investors must buy an annuity when they reach 75, but RIWP says the rules need to be amended because the depressed annuity market has been bad news due to base rate rises failing to kick start annuity rates.

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