Positive news in annuitydebate

With its Modernising Annuities paper, the Government has demonstrated a good understanding of the issues surrounding provision of financial services to the retirement community

When the Government launched its annuities consultation in February, it revolutionised a debate that although topical was unsustainable and increasingly limited. David Curry's Pensions Annuities (Amendment) Bill was promoted by an opposition ambush at its second reading to committee stage. Other proposals for annuity reform were being developed by Dr Oonagh McDonald's retirement income reform campaign and the Institute and Faculty of Actuaries. All of the proposals the ABI contended in its article on the subject, Reforming Annuities: Big Bang or Softly Softly, are unlikely to be accept...