Annuity Bureau throws caution over longer life

The Bureau says new regulations mean all new retirees, except those in final salary schemes, pensions coming into payment since 6 April, will no longer receive inflation proofing for defined contribution company pension schemes. Prior to this date, pensions paid from money purchase schemes had to ensure their retiring members received a pension that would grow annually, varying according to which Inland Revenue rules they fitted into. Peter Quinton of The Annuity Bureau says, enabling individuals to tailor their pension income to their own specific requirements makes sense from a prac...