Webb puts annuity reform on top of post-election wish list

Helen Morrissey

Pensions minister Steve Webb has put annuity reform at the top of his wish list should he remain in post after the election.

Speaking to NAPF Conference delegates Webb said he would like to see annuitants offered the opportunity to convert their income for a capital sum. "We can't do anything about this before the next election but if I am part of the next government it's an area I would like to look at," he said. "It could be helpful for those who have a small pension pot for whom a small income may not be a game changer but a capital sum might be. However, we would need to find the right price." When asked whether such a move would be used to only help those who annuitised shortly before the Budget Webb s...

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