The Pensions Advisory Service (TPAS) recently launched a new online annuity planning tool. This aims to help people with the choices and decisions they have to make when they want to turn their pension pot into an annuity. This includes answering questions such as level or increasing, benefits for a partner or not, and do I qualify for an enhanced annuity? Recent Association of British Insurers (ABI) research1 shows the need for this type of tool, with around 2/3rds of people buying a single life annuity and only 6% buying an escalating annuity. Education around the value of the attaching...
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