The Government has announced that plans for creating a secondary annuity market with effect from April 2017, have been scrapped. Such a market would have allowed individuals who have bought annuities under Defined Contribution schemes to sell those annuities, either back to the insurance company that issued them or to a third party. However, the industry had raised many issues that would impede the efficient working of such a market, not least keeping track of how long the original annuitant remains alive.
Censeo joins WBR Group
We are delighted to announce that we...