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Government drops plans for secondary annuities market

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Following consultation to explore the options for a secondary market permitting individuals to assign or surrender their annuities in exchange for a lump sum, the government has concluded that the development of a competitive market could not be balanced with sufficient consumer protections.

Following consultation to explore the options for a secondary market permitting individuals to assign or surrender their annuities in exchange for a lump sum, the government has concluded that the development of a competitive market could not be balanced with sufficient consumer protections. The government believes the demand, estimated at around 5% of people who currently hold an annuity, would be too small to create a successful market.

Issue: 1328
Categories: News
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