Flexibility for protected rights pensions to increase

DWP minister James Purnell confirms that survivor benefit requirements are to be removed, but not until 2012

The Government will introduce more flexibility for pensioners buying annuities from their protected rights pot from 2012. In a recent speech, DWP minister James Purnell said the requirement to buy a joint life annuity will be removed but not until contracting-out of defined contribution schemes is abolished. This is not expected until 2012. Those who are married or in a civil partnership are currently required to buy a 50% spouse/partner pension with their protected rights pot to provide survivor benefits. This means people cannot combine pension pots to buy one annuity and therefore ...