UK shelves key part of plan to loosen pension investment rules

Britain cancelled a plan to create a secondary market for annuities on Tuesday, dismantling a key part of former Chancellor George Osborne's drive to allow pensioners more freedom to choose how to invest their pension pots.
Last year, Osborne announced pensioners would no longer have to buy an annuity, or an income stream for life, with their pension savings. Instead, they would be able to buy more flexible retirement products or take their savings in cash.
But on Tuesday, the finance ministry said creating a market for annuities posed risks to pensioners and it was clear there would not be... read more

18 October 2016 in Business, Views: 41
Source: Reuters

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