Government scraps plans to allow retirement annuities to be sold on
Plans to allow people to be able to sell on their retirement annuities have been scrapped by the Government because consumers could not be guaranteed that they would get good value for money.
Due to be launched in April 2017, the planned changes would have freed up people to sell their annuity income if they wanted to, without tax restrictions that currently apply, as long as their annuity provider agreed.
But the Treasury pulled the plug on the plans after speaking to the industry, regulators and consumer groups. It said it was not willing to allow a market to develop which could produce... read more
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