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LONDON, May 12 (Reuters) – Annuities provider Just Retirement Group Plc’s sales volumes are running at around half the levels seen before the British government announced an overhaul of the pensions system, it said on Monday.
In an annual budget speech in March, finance minister George Osborne said the pensions system would be liberalised, effectively scrapping a requirement for pensioners to swap their retirement savings pots for an annuity.Annuities are products offered by insurance companies to retirees, paying them a guaranteed income, usually until they die.The reforms hit the shares of Just Retirement (LSE: JRG.L – news […]
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