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Labour will allow you to sell your annuity

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Your annuity is a very valuable asset that will provide you with a guaranteed income for life.     Please think carefully before making an irreversible decision
 
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Shadow Chancellor Ed Balls signals post election traded annuity market.

In an interview immediately following the budget on 18th March, BBC News reported that Labour's Shadow Chancellor Ed Balls stated that if Labour win the General Election he would not reverse any of the measures announced in the budget. This seems to imply that no matter who wins the election customers will have the ability to sell their annuity in exchange for a cash lump sum.

Ed Balls Confirms Sold Annuity Market


While these plans have yet to be made law, you can register your here for our free information service where we will keep you updated with progress and let you know when important announcements are made. This will place you at the front of the queue if this becomes law.

To register your interest in cashing in your annuity please click here


The case now seems to be clear that no matter who wins the election, within a year of the new parliament there is likely to be a traded annuity market in the UK.

While there is a long way to go before any bill is finally passed and given Royal Assent, this may not be too difficult a task as the UK can look to and learn the lessons from other countries where 'sell my annuity' markets have existed for a number of years.

In the UK where the regulator has a clear focus on products that deliver good customer outcomes that equally offer good value for customers, it is hooped that attractive products can be delivered. Currently the view of the industry is split. While many companies have welcomed the announcment and have signalled they want to be involved in the market, others feel that once all the initial excitement is gone, it will be very difficult for companies to put forward products that make commercial sense for the business that the customer would also want to buy. Only time will tell.

Important : Your annuity is designed to provide you with a guaranteed income in retirement. This income will continue to be paid for as long as you live. If you sell your annuity you may not have a sufficient level of income to sustain your lifestyle in retirement. It is likely to be the case that the value of the lump sum you receive will be less than you would have received if you had kept your annuity and died in line with your life expectancy at the time you took out your annuity.
 
Published : 19th March 2015
 
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Use the button below to register your interest in exchanging your annuity for a cash lump sum. Besides keeping you updated with changes and announcements we will make sure you are at the front of the queue.

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Please Note : The government are currently considering plans to allow individuals to sell their annuity for a cash lump sum. We cannot guarantee that these changes will take place nor that you will be able to take advantage of this legislation if it becomes law. These proposals do not apply to the State Old Age Pension.
 
 
 
Please Note : Some of the ideas and concepts discussed on this website are not yet law and may not become law. There is still the possibility that some or all of these changes could be altered or cancelled as the changes announced by the Chancellor of the Exchequer have to be passed by Parliament. We cannot be held liable for any action taken by a customer in anticipation of the proposed legislation becoming law.
 
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  The information contained on this website is for information purposes only.
This website DOES NOT contain personal advice based on your circumstances.
 
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