Secondary Annuity Market plans scrapped

Financial Services Article

03 November, 2016

The government has confirmed that it has scrapped its plans to create a secondary annuity market.

The reason behind this is that they did not believe that sufficient consumer protection could be built into this market development.

The government had consulted with the industry and regulators over recent months and concluded that " a vibrant and competitive market with multiple buyers and sellers of annuities, could not be balanced with sufficient consumer protections"

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