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PARLIAMENTARY EARLY DAY MOTION
PURCHASE OF ANNUITIES (25 November 2004)

Motion Details

That this House observes that annuity rates have fallen significantly since 1997; is concerned that someone who is 74 years old is forced to purchase an annuity before their 75th birthday; notes with interest that a report by Watson Wyatt found that 59 per cent. of pensioners have no desire to move into an annuity at all, and 12 per cent. wish they could do so later; believes that Government should not impose unnecessary restrictions on what people do with their own money; regrets that the Government did not take the opportunity of the Pensions Bill 2004 to abolish the compulsory purchase of annuities at 75 years rule; and urges the Government to think again and bring forward legislation to abolish the obligation so that people who have sufficient income to avoid relying on means-tested benefits are not forced to purchase an annuity at 75 years.

Sponsored by:
Lord Willetts (Conservative)

EDMS Sponsor By Party

Party
Votes
%
 
Conservative
56
80%
 
 
Independent
4
6%
 
 
Democratic Unionist Party
3
4%
 
 
Not Available
2
3%
 
 
Labour
2
3%
 
 
Reform UK
1
1%
 
 
Non-affiliated
1
1%
 
 
Crossbench
1
1%
 
Sponsor List (70 sponsors)
Party
Member
Constituency
Con
Mr Peter Ainsworth
Con
Sir David Amess
Con
Mr Peter Atkinson
Con
Lord Barker of Battle
Con
Lord Blencathra
Ind
Crispin Blunt
Lord Boswell of Aynho
Con
Sir Peter Bottomley
Con
Sir Julian Brazier
Con
Sir Simon Burns
Con
Alistair Burt
DUP
Mr Gregory Campbell
East Londonderry
Con
Sir William Cash
Con
Sir Sydney Chapman
Derek Conway
Lab
Lord Davies of Stamford
Con
Lord Deben
DUP
Lord Dodds of Duncairn
Con
Mr Peter Duncan
Con
Sir Alan Duncan
Lab
Bill Etherington
Con
Mr Nigel Evans
Con
Michael Fabricant
XB
Lord Field of Birkenhead
Con
Mark Field
Con
Lord Flight
Con
Mr Adrian Flook
Con
Mr Mark Francois
Rayleigh and Wickford
Con
Lord Garnier
Con
Dame Cheryl Gillan
Con
Lord Goodman of Wycombe
Con
Lord Hammond of Runnymede
Con
Sir Oliver Heald
Con
Charles Hendry
Con
Lord Horam
DUP
Mr Andrew Hunter
Con
Robert Key
Con
Julie Kirkbride
Con
Baroness Laing of Elderslie
Ind
Sir Oliver Letwin
Con
Sir Julian Lewis
New Forest East
Con
Tim Loughton
Con
Baroness May of Maidenhead
Con
Baroness McIntosh of Pickering
Con
Lord McLoughlin
Ind
Patrick Mercer
Con
Mr Malcolm Moss
Con
Mr Stephen O'Brien
Con
Mr George Osborne
Con
Sir James Paice
Con
Lord Pickles
Con
Lord Randall of Uxbridge
Con
Dame Marion Roe
RUK
Andrew Rosindell
Romford
Mr Jonathan Sayeed
Con
Andrew Selous
Con
Dame Caroline Spelman
Ind
Bob Spink
Con
Lord Swire
Con
Mr John D. Taylor
Con
Sir Peter Viggers
Con
Mr Nigel Waterson
Con
Dame Angela Watkinson
Con
Sir John Whittingdale
Maldon
Con
Sir Bill Wiggin
Con
Mr John Wilkinson
Con
Lord Willetts (Sponsor)
Con
Mr David Wilshire
Con
Ann Winterton
Con
Sir Nicholas Winterton

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