TUC sounds alarm over annuity trading
Commenting on reports today (Thursday) that the government may allow retired people to trade their annuity on an open market, TUC General Secretary Frances O’Grady said:
“It is hard to see a market in second-hand annuities taking off in ways that offer fair value for consumers. And if there is to be anything other than an opportunity to sell back to the annuity provider at a loss, it raises the unsettling prospect that the buyer of your annuity will continue to be interested in how long you live, your health and lifestyle.”
“It is hard to see a market in second-hand annuities taking off in ways that offer fair value for consumers. And if there is to be anything other than an opportunity to sell back to the annuity provider at a loss, it raises the unsettling prospect that the buyer of your annuity will continue to be interested in how long you live, your health and lifestyle.”
12 March 2015
Commenting on reports today (Thursday) that the government may allow retired people to trade their annuity on an open market, TUC General Secretary Frances O’Grady said:
“It is hard to see a market in second-hand annuities taking off in ways that offer fair value for consumers. And if there is to be anything other than an opportunity to sell back to the annuity provider at a loss, it raises the unsettling prospect that the buyer of your annuity will continue to be interested in how long you live, your health and lifestyle.”
NOTES TO EDITORS:
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
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