Displaying items by tag: Canada Life
7 in 10 think retiring in 60s a thing of the past
Over two thirds (69%) of Britons believe retiring in our sixties will become a thing of the past, according to new research.
Annuity rates look set to remain at historical highs
A 65-year-old with a £100,000 pension could get themselves up to £7,430 per year from an annuity, the highest since last October, according to data from Hargreaves Lansdown.
Britons to work longer due to insufficient retirement savings
Half (49%) of workers in the UK plan to work beyond State Pension age, with the average expected retirement age of 72.
Annuity rates climb 54% in 2 years
In the last two years annuity rates have risen by more than half, according to Canada Life, giving a 65-year-old with a £100,000 annuity an extra £2,500 a year.
Annuity deals differ by £13,240, says Canada Life
The difference between the best and worst annuity in the open market could pay an extra £13,240 in income or £662 a year over a typical 20-year period, according to Canada Life.
Canada Life reports doubled annuity sales
Canada Life has reported doubled annuity sales compared to last year, according to its UK half year financial results.
Over 50s unimpressed by rising annuity rates
Despite the significant improvement in annuity rates over the past 18 months, only 14% of 50+ year olds who are at least fairly familiar with annuities consider them to currently offer a good rate.
Annuity break-even point falls by 5 years
The break-even point for retirees to get their money back from an annuity investment has fallen by five years as rates rise, according to Canada Life.
MPAA awareness 'very low' - Canada Life
The Money Purchase Annual Allowance (MPAA) has created a pensions tax trap for millions of people aged over 55, according to new research.