Neil MacGillivray: Three reasons secondary annuities were doomed to fail

Govt u-turned on plans to create secondary annuity market

clock • 3 min read

The decision to scrap the secondary annuities market may disappoint some yet the industry should be heaving a big sigh of relief, argues Neil MacGillivray

When the government first announced its plans to create a market for secondary annuities it rang alarm bells. It was clear from the outset that the government had no understanding of the annuity market and had given no serious thought as to the challenges that lay ahead. So it is not of any great surprise when they announced on 18 October that they were scrapping the idea. I have always had three main concerns over the creation of a secondary annuity market. I liken it to the car market: 1) Getting the best deal possible We all know when it comes time to replace our cars there...

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