Steve Webb, the former UK Pensions Minister who was responsible for the radical changes in the UK pension scene, will address the International Life Settlement Investor Conference on Tuesday 6th October, 2015, at the London offices of EY (Ernst & Young), 1 More London Place, London, SE1 2AF.

The conference agenda includes an assessment of the potential role of Life Settlement companies in the newly created secondary market for annuities.

Steve Webb brought forward proposals for radical changes in the UK pension market in 2014, which would enable pensioners to cash in their pension pots instead of taking out an annuity. As Pensions Minister, he worked towards legislation that would enable five million pensioners with existing annuities to cash them in so that the new laws announced in this year’s Budget for new pensioners will apply to those already holding annuities.

The legislation for the creation of a new secondary market for annuities is the subject of a government consultation at the present time and Steve Webb’s keynote speech will provide important insights into the issues that the UK Government and regulators will need to consider.

Simon Erritt, Chair of ELSA, and Christian Seidl, Member of the Executive Board of BVZL, in a joint statement said: “Steve Webb’s courageous creation of a secondary market for annuities provides both an opportunity and a challenge for pension and annuity holders. We believe that transparency, a Code of Practice and a commitment to investor protection are fundamental requirements for the new secondary market for annuitants. We believe members of ELSA and BVZL can contribute their expertise, experience and commitment to this important task and look forward with anticipation and interest to Steve Webb’s insights”.

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