ANNUITIES

Motion Text

That this House notes the poor value many annuitants receive from their pension providers who often do not inform them of the possibility of shopping around for a significantly better deal; welcomes the Government's concern about the poor value of some annuities and the need for reform; and calls on the Government to require all holders of policies for which there is an open market option to be informed by their provider of the annuity rates published by the Annuities Bureau prior to purchasing an annuity.