Income

Fiona Murphy asks whether the flat rate state pension will go ahead.

Advisers believe uncertainty over future pricing will make it difficult to advise women on lifetime annuities before the EU gender directive on 21 December, Primetime Retirement has found.

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.