|
|
|
|
|
|
|
Annuities Private Members' BillAfter the 2001 General Election, David Curry introduced a Private Members' Bill on annuities reform which would reform the compulsory annuity purchase rules for certain types of private pensions. The Bill would introduce provisions based on proposals published in March 2000 by the Retirement Income Working Party, a group made up of academics and industry representatives. These would limit the requirement to purchase an annuity to an amount which would give the annuitant a minimum retirement income. It would provide for greater flexibility over the application of any residual fund once the minimum retirement income had been met. The Bill would apply to the whole of the United Kingdom. You can read the Bill by clicking
here. The House of Commons Library also produced a Research Paper
for MPs on the Bill, which you can read by
clicking here. On Friday 11th January, supportive MPs from all parties outmanoeuvred those MPs trying to 'talk the Bill out' and forced a vote. The Bill was supported by 139, with 27 voting against. The Bill then moved to committee in February, and here it again had the support of politicians from across the parties. Consequently, despite the Government tabling a raft of destructive amendments, the Bill moved on substantially unamended. The Bill is now in its Report stage and following an afternoon of debate on 12 April, will again be in the House of Commons on 19 July.
|
||||||||||||||
|
David Curry MP | House of Commons, London SW1A 0AA | tel: 020 7219 6202 |
