Webb: Not end of line for annuities

%VIRTUAL-SkimlinksPromo%Radical changes to give people more freedom over how they use their retirement savings have not dealt a "death blow" to sales of annuities, the Pensions Minister has insisted.

Steve Webb said that around 100,000 to 200,000 annuity sales could still take place every year and said these products are likely to become more competitive as providers will know that retirees have a greater choice of options available to them.