Pensions Bill

Part of the debate – in the House of Lords at 6:30 pm on 27 October 2008.

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Photo of Lord Oakeshott of Seagrove Bay Lord Oakeshott of Seagrove Bay Spokesperson in the Lords, Treasury, Spokesperson in the Lords, Work & Pensions 6:30, 27 October 2008

moved Amendment No. 77:

Before Clause 123, insert the following new Clause—

"Amendment of rules to take pension annuities by the age of 75

(1) Any statutory provision or rule of law requiring a pension to be taken in the form of an annuity by the age of 75 is amended so that the age limit is 85.

(2) The Secretary of State must review the age limit no less frequently than every five years and report on the average life expectancy."