'Consult industry first' - secondary annuity market reaction

Dentons Pensions director of technical services Martin Tilley (pictured) said: "This was a 'think bubble' that should have been popped before it got to public consumption." His comments follow the government's announcement yesterday that the proposed launch of a secondary annuities market would no longer happen. In a statement it said: "It has become clear that creating the conditions to allow a competitive market to emerge could not be balanced with sufficient consumer protections." Tilley suggested the proposals may have created false expectations among consumers, who could have dec...