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<p>In October 2016, the Government announced that it would not continue with proposals
to create a secondary market in annuities. The conditions required for a competitive
market could not be balanced with sufficient consumer protections and it would not
have been appropriate to allow a market to develop which would have produced poor
outcomes for consumers.</p><p> </p><p>The Government is committed to ensuring that
older people are able to live with the dignity and respect they deserve and the State
Pension is the foundation of state support for older people, with a full new State
Pension now worth £164.35 per week. In addition, the Government provides Pension Credit
which targets help towards the poorest pensioners who for whatever reason have been
unable to provide for their retirement.</p><p> </p><p>The Government also provides
bus passes for free travel once an individual reaches the female State Pension age
and Winter Fuel Payments to help with heating costs during the winter.</p><p> </p>
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