All annuities articles – Page 9
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OpinionEditorial: Second-chance annuities
It was never going to be straightforward. When the idea of secondhand annuities was first mooted, commentators were at once delighted by the idea of being able to reverse the irreversible, but perplexed as to how it could generate a good deal for those involved.
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OpinionEditorial: Speed bumps
When the government announced last week it was launching a consultation into the processes underlying the pension freedoms, it came as little surprise to those who foresaw the rollout of these reforms having a bumpy ride.
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OpinionMinded to make the money last?
From the blog: So, only around one in eight over-40s plans to cash in more than half of their pension pot.
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Opinion
Cashing in unwanted annuities
Talking Head: I am delighted the government is consulting about the possibility of allowing people to cash in their annuities.
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News
Cultural norms could inform UK DC outcomes, PPI report shows
The Australian experience of defined contribution indicates UK pensioners could deplete their retirement pots too early, a report warns, but experts say what we can learn from overseas systems is limited.
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OpinionNAPF: Half believe drawdown will deliver guaranteed retirement income
Talking Head: Pension freedoms are now open for business, and in the last week of March 2015 the National Association of Pension Funds surveyed savers aged 55-70 to see what they plan to do with their defined contribution pension savings under the new rules.
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OpinionEditorial: Drum roll...
So there you have it. By the time you read this, swaths of people will have battered down their providers’ doors to get their mitts on their pension pots, to splash on posh cars and cruises. Or not.
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Opinion
Two workplace guidance steps to avoid member confusion
Consider the enormity of the decisions presented to pension scheme members and the difficult questions being asked.
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News
More than half unlikely to take advice on pension access
Most retirees are unlikely to seek advice before withdrawing their pension, a survey has shown, as the industry wrestles with how to protect members in the new flexible pensions environment.
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OpinionEditorial: Nobody got hurt. For now
Editorial: Despite the inevitable post-Budget hole-picking, you have to hand it George Osborne who did exactly what he set out to do in this year’s announcement. He must be feeling very smug.
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News
Half would sell their annuity, majority want 90% of value
The consultation to lay the groundwork for a secondary market for annuities, announced in last week’s Budget speech, will allowaround 5m pensioners having the option to cash in the products in exchange for a lump sum.
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NewsHow the 2015 Budget affects your scheme
Chancellor George Osborne’s ‘cost-neutral’ Budget announcement today still managed to herald further changes to the pensions landscape, including plans for a secondary annuities market and a hefty 20 per cent cut to the lifetime allowance.
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News
Recycled annuities could offer income for DB, but buyer beware
Alongside Wednesday’s Budget, the government will launch a consultation on the viability of a secondary market to allow pensioners to cash in their annuities, but questions remain over who would buy them.
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Opinion
DC derisking needs a more personalised approach
The news that 20 Aon Hewitt defined contribution schemes have left members exposed to investment risk due to a lifestyling failure is clearly the result of an unfortunate blunder.
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Opinion
The case for cash: pension freedom and derisking
From April, savers will be faced with tough choices when it comes to drawing their pension: take the entire pension upfront, remain invested throughout retirement or buy a guaranteed income through an annuity.
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Opinion
Is Webb's cashing-in annuities plan a blessing or curse for savers?
Pensions minister Steve Webb recently called for retirees to be able to cash in or swap annuity providers in much the same way homeowners can currently switch their mortgage rate.
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News
Default fund design hamstrung by lack of behavioural data
Defined contribution experts have said a lack of sufficient data on members’ likely reaction to April's pension flexibilities is leaving default fund design in a state of limbo.
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Opinion
Why annuities still play a crucial role in the post-Budget landscape
After the Budget, a number of commentators lined up to proclaim the changes would mean the end of the humble annuity – and there is no doubt annuities have had a bashing over the past few years.
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Opinion
What Malcolm in the Middle says about our retirement prospects
We've been talking about it for nigh on a year now, but a report released by the National Association of Pension Funds today paints a detailed portrait of the decision-making paralysis facing many in the 50-70 age group at retirement.
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OpinionEditorial: Pensions fortune-telling
A hot topic of conversation last week was Channel 4’s Dispatches programme on the impact of the imminent pension freedoms, as the government launched its Pension Wise guidance service.