Annuities

Many people look to the US and Australia as models of DC best practice. However, are we right to follow their lead when it comes to auto-enrolment? Helen Morrissey takes a closer look.

When looking at how to improve the UK's pension system we often look to systems such as those in the US and Australia for inspiration.

By combining Budget reforms with existing rules which reward savers who delay taking their State pension, eligible women can boost their payout by up to tens of thousands of pounds over a lifetime.

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

Four out of five investment advisers are concerned that inappropriate products are being rushed to market to take advantage of changes announced in the Budget, research has found.

London & Colonial (L&C) has launched an annuity contract with a ‘cash-out' option, which it claims is the first of its kind on the market.

Aviva UK has reported a 21% drop in the value of new life business it wrote in the first half of the year, mainly due to a steep fall in annuity business.

Annuity margins at insurer Standard Life were down 59% in the first half of the year due to the sweeping changes to retirement income announced in the Budget, latest results show.

Millions of pension savers will be prevented from taking cash freely from their retirement funds next April unless they pay hefty penalties that could slash their pots by more than 20%, according to reports.

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.