The introduction of pension freedoms was widely expected to sound the death knell for the annuity market and yet, according to research from Platforum, three-fifths of advisers are still recommending the products to their clients where they think it appropriate.
The consulting firm's research does indicate, however, that advisers have been favouring multi-asset, multi-manager and equity funds for retirees since Chancellor George Osborne's plans to give more freedom to pensioners came into effect in April last year. "Annuities have become quite a taboo subject but the guaranteed income they offer is still attractive to clients," said Miranda Seath, senior researcher at Platforum. "Most advisers we spoke to thought there was still a place for them and their clients do want guaranteed income." The firm's research also suggests advisers are most ...
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