Member

I finish with three questions. First, what consideration have the Government given to the costs and risks of so many of these schemes just targeting buyout? I stress the risks around the stability of offshore insurers for many of these annuity contracts. What risk margins—which are never declared—are being built into these contracts and how much resource might be being wasted by heading to buyout and not investing in higher-return or expected return assets along the way, in the hope of buying out one day even if one cannot at the moment?