Annuities

The government could face a fresh mis-selling scandal if it fails to prepare for its guidance service, Chris Williams, CEO of Wealth Horizon has said following the Autumn Statement.

The 55% tax charge levied on beneficiaries of individuals who die under the age of 75 with a joint life or guaranteed term annuity has been abolished in the Autumn Statement.

Sales of drawdown contracts have more than doubled compared to the third quarter of last year while annuity purchases continue to fall, according to latest Association of British Insurers (ABI) statistics.

The average annuity today delivers just over £2,000 less income over retirement compared to one bought in March, when the Chancellor swept away the need for savers to buy the product in his Budget, according to retirement specialist MGM Advantage.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days.

In this week's quick fire RP poll we asked: Do you agree with Steve Webb's proposal that those who have purchased annuities should have the opportunity to unwind them for a capital sum?

Income drawdown looks set to grow rapidly as a result of Budget freedoms. Jenna Towler takes a look at the issues for those navigating this area without an adviser.

Do advisers think the industry will be ready in time to deal with incoming Budget flexibilities? Helen Morrissey finds out in the latest Retirement Planner Inquiry.

Helen Morrissey talks to a panel of experts about the factors that prevent self-employed people from accessing financial advice

With just months to go before the general election pensions minister Steve Webb shows no sign of slowing down. Helen Morrissey spoke to him about his plans for the future.