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COMMUTATION OF ANNUITIES

EDM (Early Day Motion) 1459: tabled on 26 June 2018

Tabled in the 2017-19 session.

This motion has been signed by 6 Members. It has not yet had any amendments submitted.

Motion text

That this House welcomes the launch of the Daily Mail's Unlock our Pensions campaign; notes that the Government proposed in March 2015 to extend pensions freedoms to existing annuity holders, by introducing a secondary market for commutation to be introduced in 2017; acknowledges that in October 2016 the Government announced it would no longer be proceeding with this policy; regrets the Government's statement that there are currently no plans to change policy to level the playing field; recognises that retirees may need to access funds from their annuity in times of need; and calls on the Government to legislate to allow 5 million retirees to safely partially sell their annuity.