Adrian Boulding: Sizing up the secondary annuity market opportunity

The ‘final frontier' of pension freedom and choice

clock • 6 min read

Adrian Boulding weighs up the potential scale of the forthcoming secondary market - and what it could mean for holders, advisers and the wider retirement sector

On 6 April 2017, the secondary annuity market will be declared open for business. The ground was laid with the publication last April of the FCA's Consultation Paper 16/12 ‘Secondary Annuity Market - proposed rules and guidance' and HMRC's ‘Creating a secondary annuity market: tax framework' - both following the DWP's and HM Treasury's Creating a Secondary Annuity Market - Response to call for evidence consultation, published last December. We now know that the existing annuity market is made up of six million policies, being paid out to some five million people. The market is worth an a...

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