Annuities

Negative headlines about annuity sales next April could lead to a "tragedy" of retirees refusing to buy them, according to The Pensions Advisory Service (TPAS) CEO Michelle Cracknell.

Are the annuity death tax changes unveiled at Autumn Statement 2014 a job 'half done'?

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.