The problem is we talk of what the governemtn Should Do. Well they wont do anything of the sort.

Their job is to shaft you, and its always been so.

Annuities are a waste of time - yes
Drawdown is the only other option, with that ******d Clegg smiling whiole eh takes your life savings with his 55% tax.

Too late for us, and already the liars are trying to tmept the young with the need for pensions.

The only answer is to avoid pension schemes - forgot the pretend tax benefits dont have a poension scheme of any kind. Put your money into something of real value (I am looking at Australian Year of the snake 999.9 gold right now),maybe stamps,fine art (not wine), and probably mostly property.

Given the chance I would draw every penny of my pensions right now. I have to wait a short while to avoid that 40% tax (OK I will still pay 20% and Clegg and his gets have pulled a stroke reducing the personal allowance from £10500 to £9444 as its "fair".

Fair ....**&&@~~~####!!!!!!!!!!

I am sure those under 50 will not get the message. They will keep paying into the trap that is their pension, providing a nice nest egg for the next lot of Camerons Cleggs and G Browns to thieve.

A Fool and his money are soon parted eh??

(Just watched that fascinating movie Margin call by the way)