Income

Six in 10 IFAs are ‘concerned' about advising female clients to buy lifetime annuities ahead of the introduction of the gender equality ruling, according to research.

FIVE THINGS

Standard Life has added flexible drawdown as a feature on its SIPP propositions and rolled out a new range of drawdown funds.

MGM Advantage has confirmed its annuity quoting structure and business model for the period leading up to the EU gender ruling on 21 December.

Labour has asked the government to amend current drawdown rules to ease financial pressure on people who have seen their income drop by up to 40%.

EPIPHANY

Average pensioner incomes have increased by 50% between 1994 and 2011, according to the latest research from the Office of National Statistics.

Prudential is to compensate a member of its own pension scheme after it processed his open market option (OMO) annuity purchase at the wrong time, reducing his total purchase sum.

Workers approaching retirement could be hit by significantly weaker annuity rates as the eurozone's economy enters a technical recession, an adviser group has warned.

Annuity rates failed to recover from their continued poor performance last month, according to Alexander Forbes Annuity Bureau.