Government needs to be more flexible and innovative regarding the annuities debate

Last week's debate on compulsory annuity purchase between the House of Commons and the House of Lord...

Last week's debate on compulsory annuity purchase between the House of Commons and the House of Lords had all the gravitas of a playground argument. And while not against a background of baying hounds and hunt enthusiasts filling the streets of London, the back-and-forth nature of the debate last week betrays a situation that proved just as difficult to resolve. The House of Lords voted to abolish compulsory annuity purchase at age 75 last Monday, with 198 peers in favour and 144 against it. The proposed amendment to the Pensions Bill would have removed compulsory purchase at 75, provide...