An annuitisation demand from the Conservatives has received the backing of the Association of Independent Financial Advisers (AIFA).
The Association of Independent Financial Advisers (AIFA) has agreed with Conservative party calls to end forced annuitisation at the age of 75.
AIFA policy director Andrew Strange said that the association would like to see compulsory annuitisation rules in the current pension system reviewed in the coming months.
"Given current market conditions we do not believe people should be forced to make once in a lifetime decisions which could result in them being significantly worse off in retirement than they would otherwise," Mr Strange stated.
Professional Pensions reported this week that the Conservative party has suggested that pension rules which bind people to long-term pension arrangements on their 75th birthday or on their date of retirement should be suspended in the current economic climate.
Chris Grayling, work and pensions spokesman for the Conservatives, has written a letter to James Purnell, the work and pensions secretary, arguing for a temporary rule change.
"We think it is important that people have the freedom to choose to delay purchasing their annuity," he wrote.
In his letter, Mr Grayling also asserted that he would be happy to meet to discuss the various options open to policymakers regarding pension regulations.
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