Simon Kirby – 2016 Comments on Government Cancelling Market for Secondary Annuities

The comments made by Simon Kirby, the then Economic Secretary to the Treasury, on 18 October 2016.

Allowing consumers to sell on their annuity income was always dependent on balancing the creation of an effective market with making sure consumers are properly protected.

It has become clear that we cannot guarantee consumers will get good value for money in a market that is likely to be small and limited.

Pursuing this policy in these circumstances would put consumers at risk – this is something that I am not prepared to do.