Steve Webb admits that sales of annuities could halve, but says many pensioners will continue to prefer a fixed income
Radical changes to give people more freedom over how they use their retirement savings have not dealt a "death blow" to sales of annuities, according to the pensions minister, Steve Webb..
He said around 100,000 to 200,000 annuity sales could still take place every year and that these products were likely to become competitive as providers would know that retirees have a greater choice of options available to them.
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