Annuities

Commercial secretary Lord Sassoon has been told to take steps to improve consumer access to the open market option (OMO) and intervene on poor annuity rates.

Around three-quarters of retirees bought financial products via a bank adviser, with only 20% using an IFA, according to AXA's Retirement Scope report.

Retirement solutions provider Partnership has sold online advice service Annuity Direct to Retirement Angels for an undisclosed sum.

Just Retirement's group sales hit £1bn for the first time during the year ending June 30 2010, which is a 33% year-on-year increase.

The retirement income service launched by Annuity Clearing House (ACH) in June has had a positive reaction from advisers, chairman Peter Quinton says.

A third of people approaching retirement feel inflation poses the greatest risk to their pension pot, whilst long-term care was their second biggest concern, a survey from Sun Life of Canada found.

Life assurance group Just Retirement has acquired The Open Market Annuity Service (TOMAS) in a bid to streamline annuity shopping.

Friends Provident has managed to raise or hold steady final bonus rates on its with-profits policies as markets start to recover.

Zurich Life UK will offer Legal & General (L&G) annuity products alongside its own in bid to improve its at retirement offering.

Origen Financial Services, an Aegon-owned national IFA, today launches Annuitas, an annuity and advice service aimed at IFAs.