Six in ten against exchanging annuities for cash

Michael Klimes
clock

Six out of ten trustees and pension professionals rejected pensions minister Steve Webb's bid to allow annuitants to sell their contracts in exchange for cash according to research carried out by PP.

Up to 60% of respondents said the idea was "a very worrying suggestion" and would lead to a number of undesirable consequences. "A political headline grabber but it's just not workable in practi...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

TISA publishes pension transfer manifesto

TISA publishes pension transfer manifesto

Manifesto outlines nine recommendations to reform the pension transfer system

Martin Richmond
clock 18 June 2026 • 3 min read
Bank of England holds rates at 3.75% for fourth consecutive time

Bank of England holds rates at 3.75% for fourth consecutive time

Energy shock impact still unclear

Michael Nelson
clock 18 June 2026 • 4 min read
DC pension assets expected to hit £1trn and overtake DB within five years

DC pension assets expected to hit £1trn and overtake DB within five years

DWP figures suggest DC assets could surpass £1trn in 2031 and reach £1.24trn by 2035

Holly Roach
clock 17 June 2026 • 2 min read
Trustpilot