Second-hand annuity market could harm consumers, think tank warns

The IFS said it is concerned the government's intention to allow people to sell their annuities from next April will not create a "new utopia" for the UK's five million annuitants. IFS researcher Gemma Tetlow said in a note there could be "pitfalls" if annuity holders are unable to make knowledgeable decisions about whether to sell. "Evidence suggests that at least a significant minority of annuity holders - in particular, older annuity holders - may struggle with the complex decisions required in valuing their annuity compared to an alternative lump sum. "This suggests that, at th...