HC Deb 15 April 2002 vol 383 c770W
Mr. Gareth R. Thomas

To ask the Chancellor of the Exchequer what action he will take to reform the law on annuities and income in retirement. [48898]

Ruth Kelly

For some time the Government have actively encouraged innovation in the annuity market to improve benefits for customers. A consultation document, "Modernising Annuities", was issued on 5 February. It was intended to stimulate discussion on how the annuity market could be encouraged to become more flexible and competitive. The consultation period ran until 5 April. The Government are now considering the responses carefully before deciding how to proceed.