The Pensions and Lifetime Savings Association (PLSA) has broadly welcomed the new rules and guidance proposed by the Financial Conduct Authority (FCA) in its consultation on the Secondary annuity market.

However, we believe there are additional actions that could be taken to maximise the success of this market. In particular, we recommend the FCA should consider what further action it could take to ensure what is likely to be a small market functions effectively for both the buyer and the seller. For example, preventing inefficiencies for users by providing a central online portal to obtain annuity quotes.