Over-55s are now able to cash in their pensions instead of buying annuity . The government is also trying to get the pension age down from 65 years old for men and women respectively, but this has been blocked by a court ruling that said it was unconstitutional as there were He said : 'If you want to enjoy it , why should n't you be able to do that ? ' Now , Mr Webb is urging people to take time and not make rash decisions .
Over-55s are now able to cash in their pensions instead of buying annuity . Pensions Minister Steve Webb said people should buy whatever they want . He said : 'If you want to enjoy it , why should n't you be able to do that ? ' Now , Mr Webb is urging people to take time and not make rash decisions .