25 signatures reached
To: Sarah Wollaston
Change the annuity pension law
Change the law to allow people who have already taken their annuity to access their own money in a lump sum.
Why is this important?
The chancellor has recently changed the annuity laws allowing people to to take their pension in a lump sum. Pensioners who recently cashed in their annuity, because they had no option at the time, are now stuck with pitifully small monthly pensions that will quickly lose their value with yearly inflation. This is especially true of small annuity funds with a value under £30'000. Due to the recession many people are trapped with debt that they have little chance of paying off. Allowing people to take their own money in a lump sum is just and fair. The chancellor has seen this and is changing the law, but what about those people who cannot take their money because the law does not allow it?
