Steve Webb's plan to extend pension freedoms to all retirees, creating a market for annuity resales, is well-meaning but unlikely to work in practice, Fidelity retirement director Alan Higham has said.
He said while Webb's plans were "undoubtedly noble" it would be hard to create an orderly market to facilitate the sale of annuity contracts. Higham (pictured) explained: "An annuity must stop payment...
‘Important to have an anchor’
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