What is the LATEST age by which James must draw on his Retirement Annuity Contract?

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Multiple Choice

What is the LATEST age by which James must draw on his Retirement Annuity Contract?

Explanation:
The key point is that a Retirement Annuity Contract has a latest deadline for starting to take benefits. In this context, you must begin drawing from the RAC no later than age 75. You can choose to start earlier if you wish, but waiting beyond 75 isn’t allowed. So 75 is the latest age to commence drawdown. The other ages are simply earlier possible times to start, not the maximum permitted.

The key point is that a Retirement Annuity Contract has a latest deadline for starting to take benefits. In this context, you must begin drawing from the RAC no later than age 75. You can choose to start earlier if you wish, but waiting beyond 75 isn’t allowed. So 75 is the latest age to commence drawdown. The other ages are simply earlier possible times to start, not the maximum permitted.

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