Annuity provider Just Retirement has launched a one-year version of its fixed-term annuity in response to the far-reaching changes affecting drawdown announced at last month's Budget.
The move will enable pension savers to take tax-free cash and income but maintain the flexibility to rethink their options when the proposed new rules come into force next year. The group, which also offers enhanced annuities, said it believed some people approaching retirement will want to wait to see what new choices might be available to them in April 2015. Measures announced by Chancellor George Osborne at Budget 2014 gave retirees unprecedented access to their pension savings. The announcements caused an immediate drop in annuity providers' share prices as investors questioned...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
