Consultations & legislation
Removing the requirement to annuitise by age 75
Issued: 15 July 2010
Open date: 15 July 2010
Close date: 10 September 2010
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 commented 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.
The documents below are available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
- Draft clauses for the 2011 Finance Bill together with Explanatory Notes, Tax Information and Impact Note and contact details for enquiries relating to the draft clause
- Removing the requirement to annuitise by age 75: a summary of the consultation responses and the Government’s response (384KB)
- Removing the requirement to annuitise by age 75 (PDF 596KB)
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