Annuity providers lengthen cooling-off periods in response to budget

clock

Partnership and LV= have responded to the shock changes to the annuity market announced in the Budget by increasing the cooling-off period on their products.

LV= has extended the period in which retirees who are currently annuitizing can cancel their contract from 30 to 60 days. Partnership said anyone annuitizing from 3 March would have until 11 Apr...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

PPI calls for 'new approach' to Gen Z retirement planning

PPI calls for 'new approach' to Gen Z retirement planning

PPI report commissioned by IFoA looks at challenges the generation faces in retirement

Jasmine Urquhart
clock 26 February 2025 • 3 min read
Partner Insight: Why more support is needed to help avoid retirement savings shortfall

Partner Insight: Why more support is needed to help avoid retirement savings shortfall

With some retirees facing nearly a decade of unfunded retirement, Jayesh Patel - Head of DC Clients at Legal & General - discusses how to help savers better plan for the duration of their retirement years.

Average pension transfer times fell during 2024 while values grew

Average pension transfer times fell during 2024 while values grew

Origo data shows overall pension transfer times took 12.3 days to complete last year

Martin Richmond
clock 24 February 2025 • 2 min read
Trustpilot