The whole pensions / BtL / annuity dynamic is getting truly ludicrous.
Exhibit 1. The DT indulging in some sensationalist pandering to its 'readers' with this ridiculous claim about 'annuity mis-selling'. Here. I work in this business and the biggest problems with annuities are
1) pension savers not shopping around when all the pre-retirement packs issued by all insurers tell people to shop around and
2) epic government and regulatory failure and especially the lunatic interest rates and financial repression generally.
Then there's these two dillies.
Exhibit 2. Gazumping is back. Oh great. So is something sensible being done to make this less likely?
Exhibit 3 Well, not really.
You just wait and see what people will spend their pension funds on when they can get at them next year.
It's not going to end well, is it?
Debate Magazine
