Income

Mike Morrison looks at how people make retirement income decisions and concludes they are not always rational.

Jelf Employee Benefits is extending its annuity offering with the launch of its standalone broking service.

ANNUITIES

Lloyds Banking Group is back in the black after announcing a profit before tax of £2.1bn for the six months to the end of June - and said it is on course to target IFA clients orphaned by the Retail Distribution Review (RDR).

Even affluent households are concerned about generating sufficient retirement income according to research from Close Brothers Asset Management.

The National Association of Pension Funds (NAPF) has launched a search for at-retirement providers to help develop a range of services for defined contribution (DC) savers.

Prudential is being criticised for including quotes for with-profits annuities alongside conventional annuities in information packs sent to retiring customers.

Female life expectancy aged 65 varies by up to 5.7 years from region to region, research from the Office for National Statistics (ONS) finds.

People living in expensive areas could lose nearly a fifth of their retirement income for life by not declaring their medical conditions, the insurer Partnership has found.

Access to professional advice is "crucial" for people planning their retirement, given the current state of the state pension and long-term care system, delegates heard.