The disclosure relates to all submissions received as part of the consultation to remove the requirement to annuitise by age 75. This consultation opened on 15 July 2010 and closed on 10 September 2010.
The Treasury website states that 185 responses were received from a wide cross-section of individuals, pension professionals, advisers, trade bodies and academics. These 185 responses represent all submissions received up to one week after the formal close of the consultation (i.e. 17 September 2010). Multiple submissions from the same individual or organisation have been counted as one single submission.
Three submissions were received later than one week after the formal close of the consultation. These were not formally counted as part of the consultation process but their contents contributed to the decision-making process where practical. These additional 3 submissions are also being released.
A report from one major pension provider was submitted containing commercially-sensitive assessments of the likely implementation costs to the provider of the reforms. We consider that this information engages the exemption at section 43 (2) of the FOI Act (commercially sensitive) and that the public interest lies in withholding these assessments. This provider also submitted the same report with the commercially-sensitive cost assessments removed; this is being released.
The name, address and contact details of individuals have been redacted.