Tomorrow is the annual Budget and we are waiting with baited breath to find out if Chanellor of the Exchequer, Alistair Darling, may increase the compulsory annuity purchase age limit.
Currently, the age limit is 75, so if you haven’t used your pension fund to buy an annuity by then, you have no choice.
With an ever increasing age expectancy, many experts in the field believe that the whole public pension sector is due an overhaul.
The existing age limit of 75 was first introduced back in 1956 when life expectancy was far lower and is probably no longer appropriate.
Changes to the pension sector are highly likely, whether or not that will include increasing the compulsory annuity age limit, we shall see…
