Pensions Bill: annuities will pass today, says Lord Oakeshott

Speaking at the NAPF Autumn Conference today, Oakeshott has said the outcome should be agreement on an increase to 80 from the current 75 age rule - not 85 as previously suggested - else the Bill may fail. “Compulsory annuity simply has to go up, being 65 today is not quite the same as being 65 twenty years ago,” he says. The amendment has been taken back to the House of Lords for further debate today in the hope of trying to pass it before the Queens speech on the 23 November. Oakeshott has also highlighted the widening ‘chasm’ between the country's pension haves and have-nots. Th...