Annuities

MINISTERS HAVE MADE A last-minute plea to the Financial Services Authority not to go ahead with plans to relax rules on selling personal pensions, laccording to leaked government documents shown to the Guardian.

Aegon launching a major advertising campaign to target corporate decision makers, at a time when it is looking into a move into the bulk annuities market.

Legal & General is putting more emphasis on its position in the annuity market by appointing Simon Gadd as the new managing director of annuities.

A survey of the UK annuity market published by the Department of Work and Pensions (DWP) has highlighted potential risks for the insurance industry in dealing with longevity risk and long-term debt shortages.

As it is no longer compulsory for pensioners to buy an annuity, and with an increase in longevity, pensioners should take more risks with their investments, claims Jupiter.

Final versions of the maximum drawdown levels available after A-Day suggest drawdown could provide better value than an annuity for those in the earlier stages of retirement.

One in four pensioners are succumbing to the ‘pensioner splurge', by spending more in their first year of retirement than in any following years, claims new research from Prudential.

The Association of British Insurers has published a new Statement of Good Practice on Pension Maturities to help insurers communicate with consumers about what to do when their pension matures and they buy an annuity.

Public understanding of annuities has improved but more work is needed as the debate around pensions hots up, according to the Association of British Insurers.

HSBC will refer customers to market research from The Annuity Bureau in a deal directed at providing greater access to the open market option for the bank's customers.