Consultation outcome

Removing the requirement to annuitise by age 75

This consultation was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

This consultation has concluded

Download the full outcome

Removing the requirement to annuitise by age 75: a summary of the consultation responses and the Government’s response

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Detail of outcome

a summary of the consultation responses and the Government’s response to removing the requirement to annuitise by age 75

Original consultation

This consultation ran from 15 July 2010 12:00am to
10 September 2010 11:45pm

Summary

At the June Budget the Government announced it will end the effective requirement to purchase an annuity by age 75 from April 2011.

Documents

Consultation description

The Government announced at the June Budget that it will end the effective requirement to purchase an annuity by age 75 from April 2011. A consultation on the details of this change was launched on 15 July 2010 and closed on 10 September 2010.  The consultation document, which can be downloaded below, set out the Government’s proposals and invited comments on all aspects of the proposed new rules.

185 responses to the consultation were received from a wide cross-section of individuals, pension professional, advisers, trade bodies and academics. A summary of consultation responses is available below. Included in this is the Government’s response, detailing the final policy decisions made as a result of the consultation process.