Moneywise: 300,000 predicted to resell their annuities
A recent Old Mutual Wealth poll suggests that some 850,000 annuity holders may seek to sell their policies once the secondary market in annuities opens next year.
The government is projecting that 300,000 would look to exchange their products. Jon Greer of Old Mutual Wealth encourages people to be cautious about disposing of a product that offers a guaranteed long-term income. He is also concerned that the buyers entering the market will be at a significant advantage to potential vendors.
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