While money-back guarantees seem to be a simple way of returning unused capital after death, they will have to be taxed appropriately and could also lead to a 10% cost hike to compensate for opting out of the pool
For most people, a key driver for working is to look after our nearest and dearest. It is natural that we would want to feel they will be looked after when we die and so we make arrangements to pass on wealth in various ways. For many people nowadays, their pension is a significant asset and although the main object of an annuity is to provide an income for life in retirement, many people feel rather cheated by the way annuities operate and consider it unfair they cannot pass this wealth on. When buying an annuity, it is possible to set up a survivor's pension and opt for a guarantee peri...
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