With the Chancellor of the Exchequer, George Osborne, today announcing that he plans to extend his annuity reforms even further, the meeting of the All Party Parliamentary Group on Insurance & Financial Services this afternoon will be especially topical.
Tuesday 14 October
4.30pm, The Thatcher Room, Portcullis House
Annual meeting of the group to elect officers, followed by
Pension and Annuity Reforms
The Budget announced radical changes to pensions reform from April 2015, removing the requirement to take an annuity and allowing individuals to take cash from their pension at 55, with a right to guidance to help them make informed decisions.
This session will look at what the implications of these reform will mean – how will the reforms impact consumers? What will the “guidance” look like and what should it offer to consumers? What new products are likely to be emerge as a result of these changes? Is there still a role and need for annuities in the new landscape? with more individuals taking cash from their pension, what are the implications for the wider economy – how will this impact investments in the corporate bond market and other products such as equity release
John Perks, Managing Director, Retirement Solutions and Phillip Brown, Head of Propositions, LV=
Ewan Smith, Pensions Proposition & Strategy Director, Royal London
Meetings of the Group are open to the public to attend although accommodation in the meeting rooms in Portcullis House can be a little tight sometimes.
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