Advisers baffled by pricing in run-up to G-Day

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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.

Half of the 447 advisers surveyed by the group expect providers to find a mid-point between male and female rates. More than two fifths (44%) expect rates to be levelled down, while 3% predict providers will push them up, the research added. About 60% of advisers, meanwhile, said they believe this uncertainty, coupled with claims rates for men could fall by up to 13% after December 21, makes it difficult to advise on conventional annuities. Primetime Retirement CEO, Kim Lerche-Thomsen, said: "Lifetime annuity rates are already at an all-time low and uncertainty over gender quality ...

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