Hargreaves chief: Future of standard annuities in doubt
- Hargreaves Lansdown’s chief executive Ian Gorham has said the reform of the rules around annuities in yesterday’s budget is long overdue.
- Gorham, speaking to Investment Week, said the changes had come as a surprise, but he welcomed the overhaul of the annuities market.
- The annuities market had already been splitting in two as investors looked more at drawdown products, and Gorham said the changes could spell the end for standard annuities.