Annuities

Only 1% of savers have opted to cash in their pensions completely since the retirement 'freedom and choice' reforms took effect last month, according to the country's biggest retirement adviser.

Annuities have become the new focus for complaints according to figures from the Financial Ombudsman Service (FOS), a year after the product was publicly abandoned by the Chancellor.

... clients will call you about this week

Insurer Zurich is to pass its £1.2bn legacy annuities business covering 28,000 clients to specialist Rothesay Life.

Annuity specialist Just Retirement has reported sales are down by a fifth since the 2014 Budget that removed the need for people to buy its main product.

'Retirement ready' clients need long-term advice

A retiree's complaint against Friends Life over its failure to pay his annuities on time for a decade has been rejected by the Financial Ombudsman Service (FOS), despite FOS and Friends admitting the delays are poor customer service.

Professional Adviser's Armchair Critic takes a look at the Pension Wise website, and can't quite believe what he is (and isn't) reading...

A third of people who have already purchased an annuity intend to keep it despite government promises they can sell their right to the income for cash, according to a poll of 1,800 retirees.

The death of the ‘once and done' pension plan