Watson Wyatt

Demand for variable annuities remains high despite the challenging environment and withdrawal of the Hartford, new research reveals.

Nearly half of employers with defined benefit schemes still open to active members think they will close them to future accrual within three years, Watson Wyatt research suggests.

One in five employees without alternative pension savings are likely to opt out of personal accounts, two thirds of attendees at Watson Wyatt's latest debating forum believe.

The proportion of Defined Benefit (DB) schemes open to new entrants is expected to fall from 25% to 18% by 2010 and 14% in the next 5-10 years, according to Watson Wyatt's Pension Plan Design Survey 2008.

The cost of guarantees on variable annuity products should be kept at 1% or less of the fund value per annum for consumers to be willing to pay for them, according to three-quarters of attendees at a recent Watson Wyatt debate.

The at retirement market for financial products will more than double within five years to over £30bn a year, according to actuary Watson Wyatt.

Watson Wyatt has appointed three consultants to its Bristol defined contribution (DC) pensions team.

FTSE 100 defined benefit (DB) pension schemes added just over £6bn to their liabilities last year as almost 10 changed their mortality assumptions, according to research by actuary Watson Wyatt.

A quarter of FTSE 100 defined contribution (DC) pension schemes do not have a service level agreement (SLA) with their scheme administrator, according to research by Watson Wyatt.

Watson Wyatt has launched a database to help clients compare European defined contribution (DC) pension providers.