'Protected rights u-turn is figment of imagination'

In September last year the Department for Work and Pensions (DWP) issued a consultation on a proposal to remove the restrictions surrounding protected rights, the part of a fund built up through contracting out of the State Second Pension (S2P). The consultation closed in October but in December HM Treasury published a paper on the annuity markets, alongside the Pre-Budget Report, which announced a review of the operation of the annuity Open Market Option (OMO). However Standard Life pointed out the paper states while the DWP has already conducted a consultation on the consequences of r...