Annuity age limit debate 'clouds real issues'

Skandia recently called for a permanent end to forced annuitisation at 75 following Conservative pressure on the Government to temporarily suspend the rule while economic turbulence prevails. However, MGM Advantage says a debate over temporary abolition of the rule will do little to tackle the real problems. Craig Fazzini-Jones, director and head of MGM Advantage Designs for Retirement, says people are more concerned pension funds have recently lost value, resulting in reduced income for those about to retire. "Clearly no one wants to lock-in losses if they retire this year," he says. ...