Industry commentators have welcomed the government’s consultation on removing the obligation to annuitise by age 75, but warn the proposals for a Minimum Income Requirement (MIR) must be exercised fairly.
Prudential is under fire from other members of the Association of British Insurers (ABI) for spoiling an initiative to block damaging tax changes to pensions.
Trustees are concerned workplace pension uptake will be reduced by government plans to halve the time limits for schemes to communicate basic information to staff.
Speculation that auto-enrolment might be permitted before the introduction of personal accounts in 2012 has been scotched by the Department for Work and Pensions (DWP).