Annuities

What will the be the major developments for pensions?

There is a risk that pensioner poverty will increase after the implementation of freedom and choice from next month, according to a leading think tank.

Plans to allow pensioners to sell their annuities for cash must be considered carefully to prevent rip-offs and poor deals, industry participants have warned.

Chancellor George Osborne will further relax pension rules in his Budget on Wednesday to allow the sale of annuity contracts.

Pensioners who cash in annuities after two or three years could lose half their pot in fees

Michael Johnson has proposed that retirees are defaulted into drawdown after research by PP found little support for his original call for a default option of index-linked annuities.

Michael Johnson sets out plans to curb freedom and choice

Savers approaching retirement should be defaulted into a not-for-profit annuity broker to protect them from making poor decisions after new flexibilities come in, argues the Centre for Policy Studies (CPS).

Asset managers should be subject to similar regulation to annuity providers if they are to get involved in the retirement income market, argues the Financial Inclusion Centre.

As schemes continue to battle with their liabilities Rupert Brindley asks if there is another way.