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LV= on the Government proposal to allow pensioners to sell their annuities

16 March 2015 | Press release


John Perks, Managing Director of LV= Retirement Solutions says:

“LV= is supportive of the proposal, although it will not be an easy thing to do and we need to be mindful of the possible dangers for customers. Cashing in and spending an already poor value annuity will only worsen an existing problem. Likewise cashing in a good value annuity could also cause customer detriment. However, as part of the pension freedoms, it makes sense that all retirees should have the opportunity to achieve a better income outcome. We believe we can do more to understand the potential risks and benefits here, which is why we have offered to work with the Government to help test the market, prior to determining the best longer term solution.”

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