The requirement for DC members to purchase an annuity by age 75 will be removed from April 2011. (Transitional provisions already allow deferral.) Government proposals contain two drawdown solutions for members wishing to defer annuity purchase. Trustees need to consider whether extra flexibility will be offered via the pension scheme, although member uptake is unlikely to be high.
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Compulsory annuitisation
- Squire Sanders
- François Barker, Catherine McKenna, Wendy Hunter, Steve Southern and Emma King
- United Kingdom
- September 14 2010
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Dr Jürgen Fegbeutel
Legal Services Director
BMW (South Africa) (Pty) Ltd