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.
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.
