It seems that each governing party that comes to power likes to make its own stamp on the pension and investment marketplaces, particularly the pension industry which has seen radical changes over the last decade, with simplification being the latest.
Options for the consumer at retirement have also significantly changed with the introduction of drawdown facilities set against the previous traditional annuity options. One might therefore be forgiven for anticipating similar sweeping changes in the annuity world, and a move from this more traditional market to the other vesting mechanisms have already been noted. Whilst the annuity market has seen little change to date, the success of the variable annuities in the USA and Japan may well be emulated in the UK, adding to this product’s consistent usage in retirement planning. Current hig...
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