The government is already warming up to the changing of the rules governing annuities. An annuity is a kind of special policy that enables pensioners to have a guaranteed pension.
The old rule
Normally, anyone reaching the age of 75 is expected to buy annuity, especially if they have personal or company money purchase pension.
The rule presently allows pensioners to convert any kind of built up capital they have in any personal pension policy to a regular pension that Read the rest of this entry »