Statement re Budget Proposals

RNS Number : 7128C

Just Retirement Group PLC

19 March 2014

 



JUST RETIREMENT GROUP PLC

GROUP COMMUNICATIONS

Vale House, Roebuck Close

Bancroft Road, Reigate

Surrey RH2 7RU

www.justretirementgroup.com

NEWS RELEASE

JUST RETIREMENT GROUP PLC

STATEMENT RE BUDGET PROPOSALS

19 March 2014

Just Retirement notes the proposed reforms to the retirement income market in today's Budget statement. We support the chancellor's comments that annuities have a positive role to play in helping customers secure a guaranteed income for life.

Just Retirement also welcomes changes in legislation which improve flexibility for retired people.

Proposals to ensure that all consumers will receive guidance at retirement are clearly a positive move in improving customer outcomes. This could suggest an increase in the numbers of customers shopping around using the open market option.

Annuitisation has not been mandatory for several years, yet 90% of consumers continue to choose wisely to secure a guaranteed  income for life by annuitising. The proposed reforms suggest more choice for all retirees, ensuring better value for money for those who continue to annuitise.

Enquiries

Just Retirement:

James Pearce, Director of Investor Relations

Telephone: [phone]

[e-mail]

 

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