Marilyn Cole: Wider annuity misunderstanding a big issue for pension sector

The government's decision to abandon plans to allow second-hand annuity sales has been welcomed by what would appear to be an overwhelming majority of financial advisers. One of our adviser contacts had told us there might be a few complicated tax planning situations where it made sense to cash in after next April and yet most financial advisers and planners had intended to have very little to do with the reforms at all. At the same time, it seems fair for the broader financial services industry to ask why such a reform was not suggested in a Green Paper or put out to consultation bef...