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HM Treasury: Unacceptable to allow market to develop which could produce poor outcomes
The Treasury has reaffirmed its decision against rolling out freedoms to the annuity market, arguing it would be impossible to balance consumer protections with a functioning market.
Plans for the market, which would have opened last April, were announced in December 2015, but then scrapped in late 2016 due to concerns that savers would not be "properly protected". Under the proposal,...
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