On 19 March the annuity market died. Well not quite, but to hear George Osborne's pronouncement that "no one will have to buy an annuity" you would be forgiven for thinking it had.
In reality, the last vestiges of the compulsion to buy an annuity were swept away - and about time too! Annuities remain a great choice for those who would like to protect themselves in retirement against market and longevity risk. But for some who would like to have more control over their investment (and accept the risk they are taking) the freedom to explore more options is great news. But with great power comes great responsibility. If the change encourages more retirees to seek advice about how to manage their finances in retirement this can only be a good thing. Too many people wit...
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