UK annuity reforms may squeeze insurers' appetite for illiquid assets
Allocations to infrastructure and property expected to reduce following Budget
The UK government's plans to reform the pensions market will reduce annuity providers' risk appetite for long-dated, illiquid assets, say market participants.
Chancellor Osborne announced a series of changes in his Budget speech on 19 March designed to give workers enrolled in a defined contribution pension scheme greater control over their money on retirement.
The flagship announcement was the scrapping of the 55% tax levied on retirees who opt to withdraw their entire pension pot at retirement
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