All annuities articles – Page 7
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NewsFCA annuity provider rules to encourage consumers to shop around
New plans announced by the Financial Conduct Authority will require annuity providers to make consumers aware of rival deals before they purchase an annuity, and some experts say there should be similar rules for other retirement products.
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OpinionBringing pension schemes together
Editorial: The efforts made to outdo each other with yet another game, more champagne or an enormous plastic animal at the stand have reached a new level at the Pensions and Lifetime Savings Association’s Annual Conference this year.
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News
Treasury scraps plans for secondary annuity market amid consumer protection concerns
Proposed reforms to create a secondary annuity market have been abandoned due to concerns about consumer protection and value for money.
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Opinion
What you need to know before seeking a buyout or buy-in
Trustees looking to carry out derisking exercises should decide early on whether to seek a buy-in, where a bulk annuity policy is held as a scheme asset, or buyout, where annuities are bought for individual members.
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OpinionCan the industry make pensioners happy?
In David Copperfield, Mr Micawber's recipe for happiness is simple: “Annual income twenty pounds, annual expenditure nineteen pounds, nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.”
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NewsRestructure or rebrand: Finmeccanica’s DC changes
The decision by FuturePlanner, Leonardo-Finmeccanica’s defined contribution pension scheme, to replace two gilt funds with annuity protection funds despite significant structural overlap, raises questions about the extent to which DC restructuring may just be rebranding.
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Opinion
Annuity v drawdown: Dispelling myths
From the blog: The lead-up to the launch of the pension reforms in April last year created pent-up demand in the market, resulting in many opting to take advantage of the new freedoms and draw down a lump sum.
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OpinionSecondary annuity market: Breaking the fetters or recipe for poor outcomes?
In the 2015 Budget, the government announced its intention to create a secondary market for consumers to sell their annuity policies.
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News
Consultations to flesh out details of secondary annuity market
The Financial Conduct Authority and HM Revenue & Customs have both launched consultations to shed further light on how the secondary annuity market could work, but questions were raised about the projected level of take-up.
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OpinionFreedom and choice one year on – how far are we now?
April 2015 saw an expected flurry of activity, with tens of thousands of defined contribution members exercising their freedom and accessing their pension funds.
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News
Withdrawals slow as freedom and choice demand eases
The pace of withdrawals from defined contribution pension pots started to slow in the three months between October and December 2015, as pent up demand following the introduction of freedom and choice began to ease.
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News
Annuities gain ground on drawdown as savers seek income for life
The anticipated plundering of pension funds following the implementation of the freedom and choice reforms last April has failed to materialise, according to data from the Association of British Insurers.
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News
Tesco gears DC default towards freedoms
Supermarket Tesco has a new default investment structure aimed at allowing members to access the full range of freedoms in its recently established defined contribution plan, but administrative complexity still holds many schemes back.
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News
Death tax 'wrinkle' means potential trouble for dependants
The government should consider allowing the pension pots of those who die before reaching age 75 to be transferred out, experts have said, although some questioned the likelihood of such a move.
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Opinion
How to use bonds in default funds after freedom and choice
Bonds in default funds for UK defined contribution pensions have come under scrutiny since freedom and choice. While lots of schemes and workplace providers have already altered default fund strategies, many have yet to do so.
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Features
Secondhand annuity market takes shape but risk of poor deals looms
Analysis: The government has confirmed it will soften the tax hit for those looking to take advantage of the secondary annuity market, but some experts are concerned the financial services industry holds all the cards in getting the best deal.
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NewsSecondary annuities: Govt starts putting down advice parameters
Many pensioners hoping to sell their annuities on the open market will be required to seek financial advice before doing so, the government has announced, as the industry awaits further detail on the structure of the secondary annuity market.
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OpinionAnnuities are not dead they're just sleeping
From the blog: Surveys indicate a significant majority of defined contribution members want steady income in retirement, but just never call it an annuity. So how will they achieve that?
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OpinionThings in the Autumn Statement you might have missed
The direct impact on pension schemes of the 2015 Autumn Statement was negligible, but it had some significant indirect effects.
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OpinionRisk of retrospective fury
Editorial: The pension items touched on in Wednesday's Autumn Statement may not have been as tectonic as the industry has become accustomed to in recent years, but it was further confirmation – if ever it was needed – that a break from 'progress' is not on the cards.