Budget 2014

Legal & General (L&G) has seen record growth in its annuity business following increase in demand for bulk annuities, according to the group's half yearly report.

Enhanced annuity sales in the UK dropped by a third in the wake of this year's budget, which announced a major overhaul of the retirement process, according to research.

Annuity margins at insurer Standard Life were down 59% in the first half of the year due to the sweeping changes to retirement income announced in the Budget, latest results show.

Asset managers pile into retirement income space

Threadneedle Investments has launched a global multi-asset income fund in response to the additional pension flexibilities announced in this years' Budget.

Mercer has revamped its investment approach for defined contribution (DC) schemes in response to the government's liberalisation of pensions.

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.

BlackRock is working to "repurpose" its range of target date funds and introduce an income drawdown product in response to the liberalisation of defined contribution (DC) regulation.

JO Hambro Capital Management is considering rolling out a multi-asset range as it looks to benefit from pension reforms, its chief executive says.

Defined benefit (DB) trustees should consider increasing the transfer values they offer to members in light of the upcoming liberalisation of defined contribution (DC) regulation, according to Mercer.