Insurer Zurich is to pass its £1.2bn legacy annuities business covering 28,000 clients to specialist Rothesay Life.
'Retirement ready' clients need long-term advice
Two-thirds (65%) of people aged over 55 and still in work think financial advice at the point of retirement should be compulsory, according to research.
Income drawdown has become an increasingly popular option among advisers for clients with smaller retirement pots, as demand for the product surged overall post pension freedoms, research has suggested.
Annuity rates are at their lowest level for almost two years, but the proportion of enhanced contracts sold is increasing, according to the latest IRESS At Retirement report.
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