Advisers are split on whether annuities are still relevant in today's marketplace with more than half poised to discount them from their pension planning, new research has found.
More than half (54%) of advisers said they believed annuities were no longer relevant to pension planning, while about a third (37%) disagreed, a multi-asset survey from Royal London Asset Management (RLAM) found. This apparently confirmed a trend detected by the Financial Conduct Authority (FCA), last month, which reported advised sales of annuities had dropped nine percentage points in the last year, to a 12-month low of 33% between July and September 2016. Last August, provider Aegon warned the Bank of England's decision to cut interest rates meant it was the worst time to conside...
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