Comment: An annuity solution

Michael Johnson offers a market-orientated approach

clock

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 ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Public trust in pensions industry rises for fourth consecutive year

Public trust in pensions industry rises for fourth consecutive year

Survey finds public level of trust in pensions industry has risen by 18% since 2020

Martin Richmond
clock 17 April 2024 • 2 min read
Most trustees 'willing' to govern running-on schemes

Most trustees 'willing' to govern running-on schemes

XPS finds willingness of trustees and sponsors to work collaboratively

Holly Roach
clock 16 April 2024 • 2 min read
Industry warns of 'dire' pensions landscape as FCA publishes market data

Industry warns of 'dire' pensions landscape as FCA publishes market data

Industry warns of ‘bleak future’ as FCA unveils 2022/23 retirement income market data

Holly Roach
clock 16 April 2024 • 6 min read
Trustpilot