Webb: Annuity trade-in guaranteed to go ahead

Webb (pictured) said the Chancellor had made provisions in the region of half a billion pounds a year over the next two years to be collected in tax revenue generated by the move. New pensions minister Ros Altmann has also publicly backed the idea of creating a second-hand annuity market while suggesting advice on the sales may become mandatory. "There is a pretty strong impetus in the Treasury to make this thing happen," Webb told delegates at the Retirement Planner Forum and Awards in London on 17 June. He suggested the sell-off, which could work in the form of a 'blind auction',...