Aegon: More opt for pension drawdown to invest than annuity
The pension freedoms have given people newfound flexibility to withdraw money flexibly from their pensions, removing any perceived requirement for most people to buy an annuity upon retirement. Since April 2015, flexi access drawdown which keeps ...
At what rate do annuities become a good buy?
Drawdown is more flexible than an annuity but it also riskier. I personally think my benchmark for a joint life annuity at age 65, which is currently paying £4,200 per annum, needs to increase to about £5,000 per annum before annuities become a good buy.
Securian Expands Suite of Annuity Solutions to Give Advisors, Clients More Options
Business Wire (press release)
Advisors can offer clients more guarantees, along with flexible access to their SecureLink Future annuity, with Achiever Lifetime Income—an optional guaranteed lifetime withdrawal benefit (GLWB). Available at contract issue for an additional cost ...
Converting pension savings to a retirement income …
IFA Magazine (blog)
Since last year's reforms to pension legislation, a significant number of retirees have chosen income drawdown over purchasing an annuity. Income drawdown is more flexible than an annuity. However, it also increases the likelihood that individuals won ...
PFRDA asks Pension Advisory Committee to study relaxing 40 pc annuity rule
"There is an internal discussion on current norm of mandatory annuity of 40 per cent to make it more flexible. We had referred it to PAC for their view. It is currently in a very fluid state," Pension Fund Regulatory and Development Authority (PFRDA ...
Before buying an annuity, check on hidden fees and misleading returns
But once I dug into the details, I could see this annuity illustration showed a potential lifetime payment of $22,000 per year and a guaranteed payment of $17,000. An annuity .... And often times, investors can earn more by choosing other, more ...
This is Money
Chancellor slashes pension tax relief for elderly savers who dig into their pot
This is Money
... Minister Steve Webb, who said it was unfair on older people who want to carry on working and saving. 'Cutting this allowance flies in the face of efforts to make retirement more flexible,' said Webb, who is now director of policy at pension firm ...
More pensioners putting income at risk by linking to stock market, warn experts
It comes after pension reforms last year have seen more flexible income drawdown schemes grow in popularity over guaranteed income from annuity policies. The number of people taking their retirement income from drawdown accounts has doubled to ...
FCA to stop providers showing earliest age for GAR rates
The Financial Conduct Authority (FCA) has proposed to take away its requirement on providers to show guaranteed annuity rates (GARs) at the earliest possible age. The Department for Work and Pensions (DWP) is currently consulting on rules that ...