Gov’t cancels plans for secondary annuity market

The government has decided to cancel plans to create a market for secondary annuities. A statement on the Treasury’s website explained the reason for the U-turn just 6 months before it was due to be implemented. The government said, “It has become clear that creating the conditions to allow a competitive market to emerge could not be balanced with sufficient …

Second-hand annuities – Pro’s and Con’s

The government has stated that from 2017 pensioners will be able to sell their annuities for a lump sum. This would extend pension freedoms to those who’ve already bought a guaranteed income. But can it really work? We wonder… When pension freedom arrived in April 2015, many people missed out. Those who had already bought a guaranteed income no longer …