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Provide a National Savings Annuity

Submitted on Monday 3rd October 2011

Published on Tuesday 18th October 2011

Current status: Closed

Closed: Thursday 18th October 2012

Signatures: 7

Tagged with

Money

Petition Action

Provide a National Savings Annuity

Additional Information

The annuity providers make a profit and charge commission. This reduces the amount available to the pensioner. There is very little choice and all of the offered interest rates are derisory. When the pensioner dies the provider keeps the money.

The government should provide a competitive annuity product through National Savings, possibly index-linked. When the pensioner dies their money would go to the treasury rather than into a director's bonus scheme.


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