Annuities

A list of the key pension announcements in the summer Budget

The pensions industry breathed a collective sigh of relief as the government said it would not introduce a secondary annuities market until 2017.

Supermarket giant Asda has chosen PwC to provide pension accounting services using Skyval for its defined benefit (DB) scheme.

Longevity assessment specialist MorganAsh plans to operate a 'central annuity bureau' in the second-hand annuity market.

UK retirees will suffer if 'freedom and choice' causes the collapse of the annuity market, says Tor Financial managing director David Harris.

The National Employment Savings Trust (NEST) has revealed plans to deliver in-scheme drawdown and deferred annuities in response to the ‘freedom and choice' reforms.

The pensions industry would support a cap on exit fees for defined contribution (DC) savers, according to research from PP.

A secondary annuity market would help with hedging longevity risk in defined benefit (DB) pension schemes, experts say.

Most annuity holders would resist the urge to cash in their policies on a secondary market despite concerns people had got a bad deal from insurers, according to research.

Natasha Browne takes a look at some of the proposals for a successful secondary annuity market as the consultation closes