Sammy Wilson MP has attacked the government over a decision to overturn its budget policy and manifesto commitment permitting pensioners saddled with low paying annuities to cash them in.
Speaking in the House of Commons last week, the East Antrim representative said: “This was a policy opposed by the pensions industry but welcomed by millions of pensioners who were locked into low-paying, poor value annuities.
“The problems which the government are using as an excuse were known when the policy was announced, yet the Chancellor proudly claimed to be the champion of choice for the consumer. We were told that the good sense of pensioners, plus the advice which they could access would make sure they could make an informed choice.
“It is still my view that the policy was a good one and should have been followed through leaving individuals the choice as to their financial futures.”