Secondary Annuities Market

Retirement | 18 Oct 16

The UK government has scrapped plans to set up a secondary market in annuities saying “it has become clear that creating the conditions to allow a competitive market to emerge could not be balanced with sufficient consumer protections”.

Retirement | 6 Sep 16

Hargreaves Lansdown will not offer a service for investors to sell their annuities when the UK government scheme launches next year, citing too many risks for investors.

United Kingdom | 28 Jun 16

The introduction of a secondary annuity market in the UK should be delayed due to a lack of interest from advisers as well as the post-Brexit fallout, the Association of Professional Financial Advisers (Apfa) has told the UK’s Financial Conduct Authority (FCA).

Life | 21 Apr 16

The UK government has set out the rules and regulation for its planned secondary annuities market which will allow holders to sell their scheme back to a provider or onsell the income stream to an FCA-authorised buyer.

Tax & Regulation | 15 Dec 15

The UK financial services industry has cautiously welcomed the government’s plans to extend its pension freedoms and create a new secondary annuities market by giving more than five million people the ability to sell their annuity from 6 April 2017.