The freedom to sell your annuity (read: The freedom to get screwed)

The freedom to sell your annuity (read: The freedom to get screwed)

clock

Pensions minister Steve Webb's idea to offer annuitants the chance to sell their contracts so they can enjoy the same apparent freedoms afforded to the rest of us by last year's Budget does not sit easy with Mark Polson...

We measure out our lives by different things. J Alfred Prufrock measured his out by coffee spoons. For many of us our lives are marked out by Christmases, Hogmanays, birthdays and anniversaries. But in financial services, our lives are marked out by two things: politicians dicking around with pensions, and mis-selling scandals. This being an election year, it seems inevitable that we'll see a considerable amount of the former, at least some of which will lead to the latter. Such an instance of said dicking may be found in the pronouncements of the usually-sensible Steve Webb, who h...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Retirement income: Why the '4% rule' does not work for the UK

Retirement income: Why the '4% rule' does not work for the UK

Does the 4% rule have a place in UK retirement planning?

Doug Brodie
clock 10 May 2024 • 3 min read
Stress-testing at the core of suitable retirement income planning

Stress-testing at the core of suitable retirement income planning

'How not to stress-test a withdrawal plan needs to be understood'

Chet Velani
clock 09 May 2024 • 5 min read
Advisers have bigger role to play in annuity journey of clients

Advisers have bigger role to play in annuity journey of clients

Just 29% of annuity sales are advised, according to ABI data

Ahmed Bawa
clock 03 May 2024 • 4 min read