The big three: Factors to consider when putting off an annuity purchase

The big three factors to consider when putting off an annuity purchase

clock • 4 min read

MGM Advantage's Andrew Tully talks advisers through the ‘known unknowns' when postponing buying an annuity for clients...

The Chancellor's 2014 Budget delighted many by giving people the ultimate flexibility in when and how to take their pension savings. Given these changes deciding whether to convert a pension fund into an income now is a tricky decision. Many people may choose to defer taking pension benefits until April 2015. And that may be a sensible decision - for example, for those who want to take their funds wholly as a lump sum, or those who wish to take advantage of new flexibility and the increased choices available. However, for the many people who still want to use their pension fund to pro...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why the real problems of the pensions dashboard are yet to start

Why the real problems of the pensions dashboard are yet to start

'Its aims seem not only less relevant but potentially problematic'

James Floyd
clock 23 June 2025 • 5 min read
Turning data into dialogue: Helping clients visualise retirement realities

Turning data into dialogue: Helping clients visualise retirement realities

'Data is more than just a collection of figures, it's a powerful tool for engagement'

Joshua Croft
clock 20 June 2025 • 3 min read
Average pension transfer took just 11 days at tax year-end

Average pension transfer took just 11 days at tax year-end

Origo says transfer times decreased around tax year-end with half taking seven days or less

Jasmine Urquhart
clock 17 June 2025 • 2 min read