Joint life annuities are still relevant

Speaking at a Prudential debate on the issues affecting the financial well-being of women in retirement, panellists were asked whether pension minister Steve Webb was correct to say pension reform would decrease the need for joint life annuities. At the Marketforce Future of Life and Long Term Savings conference Webb had said: "We have moved on from the days where the husband had a pension and a wife had a husband." However, Marta Phillips, chief executive of The Pension Advisory service said: "It's down to individual circumstances. With an older couple, where a woman has not worked ...