Osborne's annuity scheme scrapped by Government

Controversial plans to let hundreds of thousands of pensioners sell their retirement annuities to insurance firms for a cash lump sum have been scrapped by the Government. The scheme to create a secondary market for annuities was pushed by ex-chancellor George Osborne and aimed at allowing people more freedom to choose how to invest their pension pots. The scheme was set to be launched next April but ministers now believe consumers may not get good value for money and so it will no longer go-ahe