Six in ten against exchanging annuities for cash

Michael Klimes
clock

Six out of ten trustees and pension professionals rejected pensions minister Steve Webb's bid to allow annuitants to sell their contracts in exchange for cash according to research carried out by PP.

Up to 60% of respondents said the idea was "a very worrying suggestion" and would lead to a number of undesirable consequences. "A political headline grabber but it's just not workable in practi...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Nest Insight: 'Volatility premium' impacting millions of households

Nest Insight: 'Volatility premium' impacting millions of households

Income fluctuation leaves many families unable to effectively build savings

Jonathan Stapleton
clock 19 November 2024 • 3 min read
PRAG publishes master trust financial sustainability paper and updates TCFD guidance

PRAG publishes master trust financial sustainability paper and updates TCFD guidance

PRAG publications come ahead of its annual conference this week

Jonathan Stapleton
clock 18 November 2024 • 1 min read
Industry responds to DC and LGPS changes confirmed in Mansion House speech

Industry responds to DC and LGPS changes confirmed in Mansion House speech

Concerns about fewer individuals making decisions, member returns and sustainability

Jasmine Urquhart
clock 15 November 2024 • 5 min read
Trustpilot