What next for annuities after government U-turn?

Plans to allow annuities to sold on have been abandoned over fears market will not offer value

HM treasury
(Image credit: Justin Tallis/AFP/Getty Images)

Last week the government announced that it was going to scrap plans for a secondary annuity market.

Essentially an extension to so-called pension freedoms, the government backed the established of annuity re-sales last year to allow pensioners trapped in poor value products to escape in return for a lump sum.

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