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ABI comment on Government announcement on Secondary Annuity Market

Commenting on the Government's decision not to proceed with plans to implement a Secondary Annuity Market, Rob Yuille, ABI Head of Retirement Policy said:

“This is the right decision for the right reasons. The industry has consistently supported the Freedom and Choice reforms, but we agree with the Government that the secondary annuity market came with considerable risks for customers, including from unregulated buyers. 
“The ABI has highlighted the challenges involved and worked constructively with the Government to try to solve them, but consumer protection has to be the priority.”

Last updated 02/11/2016