HM Revenue and Customs
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Creating a secondary annuities market: tax framework

A consultation on the detail of the proposed tax framework for the proposed secondary market for pension annuities.

This consultation is about the proposed secondary market for pension annuities. The creation of a secondary annuities market is intended to extend greater flexibility and freedom to people who had little choice but to buy an annuity with their pension pot. These changes will remove current tax constraints and provide scope for individuals to sell their annuity bought with funds from a tax relieved pension pot, in return for a taxable lump sum, or for the sale proceeds to be paid to a more flexible pension product.

The government published a consultation in March 2015 on the proposed policy framework around the future secondary market for annuities. This consultation closed in June, and in December the government published its response.

This consultation lays out the proposed detail of the tax framework for the secondary market for annuities and asks for views on a number of detailed issues.

This consultation closes at 15 June 2016 11:45pm


Creating a secondary annuity market: tax framework  PDF, 301KB, 26 pages

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Ways to respond

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HM Revenue & Customs
Savings and Pensions Policy team
Room G/53, 100 Parliament Street


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