Annuity rates have fallen significantly over the last five years, making it even more important individuals make good use of the Open Market Option.
Alternatively Secured Pensions are still a useful retirement planning tool, despite the industry's failure to achieve any tax concessions from the Treasury, claims Winterthur Life.
Rowanmoor pensions has criticised the government's decision to levy additional tax charges on scheme pensions and annuities to stop pension funds being passed on after death.
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Although A-day seems to have encouraged more people to take advantage of the Open Market Option for annuities, more still needs to be done warns Just Retirement.
Almost 80% of advisers still plan to recommend Alternatively Secured Pensions to their clients despite the proposed charges put forward in the pre-Budget Report in December.
BeatThatQuote.com, the two-year-old lead generation business, has broken into the annuities market for the first time, promising to match consumers with best quotes.
The Exchange's decision to introduce fixed term annuities as a new category is an early sign of the "major revolution" set to transform the retirement income market, says fixed term annuity provider Living Time.
Despite a rise in the amount of savings invested in annuities over the last year, 60% of consumers are failing to use the Open Market Option.
Zurich has announced it is exploring the possibility of selling its closed book of annuity business.