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Displaying items by tag: annuities

Annuities may have become somewhat downtrodden with doom and gloom predictions since the pension reforms kicked in but new research suggests the younger generation are willing to give them a fair hearing.
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The ABI says that sales of annuities have risen in recent months, according to its latest pension report published one year after the Pension Freedoms.
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The returns people receive when selling their annuities are likely to be “very poor”, the managing director of a pensions firm has warned, after reforms were confirmed this week.
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The standard annuity rate rose to its highest level for the whole of 2015 during June, according to figures released this morning.
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Protection for the rights of dependents and beneficiaries particularly vulnerable older people must be cemented before secondary annuity market plans go ahead, the ABI says.
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Incoming Pensions Minister Ros Altmann has been encouraged to include a new Workplace ISA into the auto-enrolment legislation by the Centre for Policy Studies.
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Chancellor George Osborne has confirmed in his Budget today that 5m people will get the freedom next year to sell on their annuities for cash.
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A final report on the 'failing' market for retirement income is being drawn up by FCA officials.
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Friday, 23 January 2015 10:30

Annuity rates take a plunge since last summer

Annuity rates have plunged since the summer, a study has shown.
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Plans to allow the resale of existing annuity contracts increase the danger of people getting misled by fraudsters, a Sipp provider has warned.
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