Annuities

The UK could be moving closer towards unisex annuity, motor and life assurance rates despite the agreement to give a block exemption to new EU law.

Pensioners are missing out on hundreds of millions of pounds in improved annuities because of ignorance and inertia, says a new report from Just Retirement.

Principle of choice should now be extended in other aspects of pension reform, suggests the Annuity Bureau, as it supports government plans to scrap enforcement of annuities inflation indexing.

Six of the UK's most important financial services institutions - including the Association of IFAs - have this morning published their own "Budget" report aimed at encouraging people into long and short-term savings.

Uncertainty over the financial strength of companies is turning more customers towards guaranteed annuities, says the Annuity Bureau, quoting figures from the Association of British Insurers.