Super Annuities promised by Government

The Daily Telegraph has reported that annuities will become more flexible as part of the Government’s reforms of the pensions system.

Pensioners could be allowed to withdraw lump sums from their annuities or take a larger income in the early years of their retirement as part of the plans, which will see an end to the compulsion to buy an annuity with the money accumulated in a pension pot. But making annuities more flexible could allow pensioners to meet bills for long-term care or take more income from their annuity before they start receiving the state pension, for example.