Govt rethinks 'confusing' guaranteed annuity rate valuations

Valuing safeguarded benefits too complex

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Govt rethinks 'confusing' guaranteed annuity rate valuations

The valuation processes when assessing guaranteed annuity rates is to be simplified meaning fewer people will be required to take financial advice before giving up their safeguarded benefits, the government has said.

Since pension freedom was introduced, in April last year, people with a guaranteed annuity rate valued at £30,000 or more have been forced to take financial advice before giving up the benefit. ...

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