Steve McCabe – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Steve McCabe on 2016-09-15.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the adequacy of the length of time between the publication of his Department’s planned consultation on a proposed secondary market for annuities and the planned introduction of that market for the pensions industry to prepare for that introduction; and if he will make an assessment of the effect of that period on the effective introduction of that market.

Simon Kirby

To date, the Government has published the following consultation documents in relation to the secondary market in annuities policy:

Creating a secondary annuity market – March 2015

Creating a secondary annuity market: response to the call for evidence – December 2015

Creating a secondary annuity market: tax framework – April 2016

Creating a secondary market for annuities – secondary legislation – April 2016

These consultations have now closed. The Government will respond shortly.