What has happened to the annuity market post-pension freedoms?
He continues: “For many, the pension freedoms simply mean no longer having to purchase an annuity with other, more flexible options appearing more attractive in comparison. “These options include guaranteed products such as unit linked guarantees, ...
One in three DB transfers still buys an annuity
He said: "Every conversation I've had about a DB transfer has been in the context of pension freedoms and flexible drawdown. I don't know anybody who is thinking about an annuity." However, he conceded that his frame of reference was not as wide as ...
Spring Budget 2017 - insights from Chris Harris
... to individuals who have taken benefits as an uncrystallised funds pension lump sum (UFPLS) or who have taken income from a flexi-access drawdown arrangement, including those converted from capped drawdown or who purchase a flexible annuity.
'Feature-rich' products now post-freedom priority for advisers - Defaqto
... servicing' coming second. They ranked 6th and 5th in 2015 respectively. The report suggested this "complete reversal" demonstrated how advisers are placing increasing importance on 'feature-rich' products that offer the flexibility to meet ongoing ...
Less than half take lump sum advice despite soaring withdrawals: FCA
53% of pensions with Guaranteed Annuity Rates were not taken up during April to September, compared with 61% during January to March 2016, 63% during October to December 2015 and 68% during July to September 2015. Shopping also around remains ...
FCA pension freedom data exposes failing systems
Security Benefit Announces New Program with the IAFF Financial Corporation
GlobeNewswire (press release)
The Responders First Supplemental Lifetime Income program is provided through the Security Benefit Foundations Annuity, form 5800 (11-10) and ICC10 5800 11-10), a fixed indexed flexible premium deferred annuity contract, and the Guaranteed Lifetime ...
Cut in money purchase pension allowance limit to £4k effective 6 April
CCH Daily inc Accountancy Live (subscription) (blog)
Following the pension freedom reforms introduced by George Osborne in 2015 when he was Chancellor, which effectively removed the compulsory requirement to purchase an annuity, pension savers have been able to access their pension pots from the age of ...
Property and your pension options
If you are familiar with this fund management, then the basics of drawdown are relatively simple and you just withdraw money from the contract – as opposed to swapping it for a fixed income, as is the case with an annuity. This means your ... While ...
Regulation Roundup: Pension outlook in Europe
A law allowing DC plan members to buy a variable annuity at retirement, as an alternative to a conventional annuity, became effective last September. The amount of the flexible payment varies over time according to investment returns. Pension plans may ...