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"[...] George Osborne’s freedom and choice reform that gave individuals aged 55 and over the freedom to access their defined contribution savings as they wish, as opposed to having to buy an annuity."

The changes are widely misrepresented with respect to the requirement to purchase an annuity. The requirement to purchase an annuity by age 75 was removed from April 2011 (in Finance Act 2011). So there was no requirement to purchase an annuity, even before George Osborne's 2015 freedom and choice reform.

It would be much more accurate to write: ""[...] George Osborne’s freedom and choice reform that gave individuals aged 55 and over the freedom to access their defined contribution savings as they wish."

See my earlier comments on https://www.ipe.com/pension-freedom-policy-was-rushed-says-fca-chair/10033175.article .

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