Despite the concerns over protecting pensioners, Government is now confident it can remove the barriers to creating a secondary market for annuities.
Commenting on Government plans for the creation of a secondary market for annuities, Stewart Hastie, Partner, Tax & Pensions, said: “Despite the concerns over protecting pensioners, Government is now confident it can remove the barriers to creating a secondary market for annuities. The devil will, however, be in the detail of how consumers will be safeguarded, which will be released next month.
“We can see demand for this market, but it needs to be heavily regulated in order to ensure pensioners are protected from making poor decisions.”
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