Liberty SIPP's John Fox: Cash-for-annuities could cost pensioners twice

Cash-for-annuities could cost pensioners twice

clock

There is no guarantee allowing existing pensioners to sell their annuities back to insurers will put them in a better position, according to John Fox, who asks 'how will they know anyway'?

"Headlines touting an 'annuity escape plan' will be catnip for many pensioners. The timing of today's announcement is clearly no accident, as retired people are the age group most likely to vote - and most likely to vote Conservative. Electioneering aside, this plan has the potential to offer a lifeline to the millions of pensioners stuck with a measly annuity. But the practicalities of unpicking annuities are going to be huge. The maths involved in calculating the value of these complex products is beyond most astrophysicists. So it will be almost impossible for most people to wor...

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 Retirement

Defensive income before retirement: A four layered framework

Defensive income before retirement: A four layered framework

Entering decumulation can be an unsettling time for clients

Joe Simpson
clock 10 August 2026 • 4 min read
The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

A look at the three Ss of retirement income

James Peel
clock 04 August 2026 • 7 min read
What the decumulation shift means for advice firms, and how the best are responding

What the decumulation shift means for advice firms, and how the best are responding

'Technology is part of this picture in ways that are worth being honest about'

Andy Zanelli
clock 14 July 2026 • 4 min read