Written question asked by Rachel Reeves (Labour) on Tuesday, 6 September 2011, in the House of Commons. It was due for an answer on Friday, 9 September 2011. It was answered by Mark Hoban (Conservative) on Monday, 10 October 2011 on behalf of the Treasury.
Inflation: Annuities
- Question
- To ask the Chancellor of the Exchequer what recent assessment he has made of the effect of inflation on the annuities market.
- Answer
-
[holding answer 9 September 2011]: No recent assessment has been made of the effect of inflation on the annuities market.For those who decide to use their pension to purchase an annuity, shopping around for the best rate may increase their income. In particular, there are higher rates available for smokers and people with health conditions, so they should check whether a better deal is available elsewhere before accepting their provider's offer.Those who are worried that rising inflation may reduce the purchasing power of their annuity income can consider purchasing an index-linked annuity. This product would adjust their income in line with inflation thereby providing protection against future price rises.
Secondary information
- Type
- Written question
- Reference
- 71213; 533 c131W
- Session
- 2010-12
- Subjects
- Annuities Inflation
- Link
- View this Written question on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2013-11-20 02:28:06 +0000
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