Annuities

Canada Life has appointed two new heads for its life and pensions business and wealth management division which includes offshore business in the Isle of Man.

The life and pensions sector has continued to grow significantly with annuities hitting a record level of sales, claims the Association of British Insurers.

A default annuity option could be added to personal accounts as the government is switching its focus onto the decumulation phase of the retirement income system.

Mike Douglas has taken up a new role at Scottish Equitable as managing director of its annuities operation.

Hargreaves Lansdown is launching a major campaign to try and keep Alternatively Secured Pensions open to all consumers.

The annuity market must become more innovative and flexible to meet the needs of people's changing perception of retirement from a cliff-edge change to a transitional process, claims industry experts.

As falling bond and gilt yields cause conventional annuity rates to continue to decrease, with-profit annuities are becoming more popular with both advisers and consumers, claims Prudential.

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.