Retired workers could be given right to sell their pensions, says minister

Liberal Democrat Steve Webb says he would like to extend reforms and allow existing pensioners to sell their annuities to the highest bidder

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What pension reforms mean to you

Millions of retired workers could be given the right to sell their pensions under plans being floated by a Liberal Democrat minister.

Pensions ministers Steve Webb said that he wanted to build on reforms in last year’s Budget which will mean that from April, working people will be able to cash in their pension savings for a lump sum when they retire.