Cuts in future annuity rates due to the adoption of the Solvency II rules for insurers would put further strain on defined contribution scheme members, Aon Consulting says.
The warning comes after French insurer Axa told pension savers UK retirement incomes from annuities had been too generous in the past and would be cut once the new European Solvency II rules for in...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
