
The Government has scrapped plans which would have allowed pensioners to sell their Annuities on the open market, in exchange for a lump sum.
George Osborne originally announced the plans in March 2015, as a way of extending Pensions Freedom to people who had already retired. However, the proposal has been widely criticised, delayed and now been scrapped.
Announcing the decision, a Government statement said: ““After an extensive programme of engagement with industry, financial regulators and consumer groups, the government has decided not ...