Part of the debate – in the House of Lords at 4:30 pm on 15 November 2004.
moved Amendment No. 65:
Before Clause 240, insert the following new clause—
"REMOVAL OF COMPULSION TO TAKE ANNUITIES
Notwithstanding any statutory provision or rule of law to the contrary, the requirement for pensioners to take their pension in the form of an annuity, together with the requirement to do so by the age of 75, shall cease to have effect, provided that the pensioner can demonstrate that he has resources to ensure that he will not become dependent on means-tested benefits."