Comment: An annuity solution
Michael Johnson offers a market-orientated approach
David Mowat, MP for Warrington South, recently suggested in a House of Commons debate that the coalition should create a nationalised, low-cost, annuity provider to protect pensioners from poor retirement products.
This is an excellent suggestion. But there is a more market-oriented way of achieving the same end. The current Open Market Option allows retirees to shop around for the best annuity rate, and the most...
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