Latest Issue
Special Reports
Latest Special Report

The government U-turn on pension annuities is wrong

People who were forced to buy annuities deserve their freedom back

By Ros Altmann  


A few days ago, the government reversed its decision to allow pensioners to sell back annuities that they were forced to buy due to past restrictions. I firmly believe that this U-turn is wrong.

When people buy an annuity, they hand over their pension savings to an insurance company in exchange for an income for the rest of their life. Until 2015, people were often forced to buy annuities as a result of restrictive pension rules, which have now been relaxed. Many people would not have purchased an annuity if they did…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with our newsletter, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

More From Prospect