'Give us our pension freedoms', demand five million who bought rip-off annuities

The Telegraph, Tuesday 2 October 2018

Five million pensioners who are stuck with poor value annuities are appealing to Chancellor Philip Hammond to allow them to cash the policies in as part of next month's Budget.

Prior to the 2015 "pension freedom" reforms most people used their pension savings to buy annuities, insurance contracts paying a guaranteed income for life.

Many people were either sold policies that failed to take into account health conditions – that would have boosted payments – or were ripped-off by insurers who didn't properly highlight the benefits of shopping around.

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