It has been 16 months since I started advising clients again after a break of four years. Obviously much has changed after pension freedoms not least that annuities are less popular and drawdown has become the new default at retirement. This is not a problem nor an issue for a good adviser because they will always work out what is the best solution for the client rather than be ...
Blog and press cuttings
I write extensively about retirement income matters and am often quoted in the national press and sometimes appear on the radio or TV.
Update May 2018
Annuity Update May 2018 As I review annuity rates at the beginning of May 2018 I am struggling to say anything new because there has been little meaningful change to rates over the last few months except for relatively small changes to some rates when yields have changed. Little has changed Annuity rates have been stuck in a narrow band for the last 8 months with the benchma ...
Annuities -one step up, one step back
One step forward, one step back In my last annuity update at the end of February I was upbeat about the annuities and the opening sentence was “Annuities are coming out of the doldrums as rates rise are rising on the back of increased bond yields.” Just over a month later the wind has been taken out of my sails as gilt and bond yields have fallen resulting in lower annuity ra ...
Annuity comparator makes it easier to shop around From 1 March 2018 every firm issuing guaranteed annuity quotes must comply with new rules set out in the FCA’s policy statement PS17/12. In simple terms, firms will need to ask customers for their consent to use personal information in order to produce an annuity comparator. The annuity comparator is simply a new type of annui ...
Weathering the storm
Over the last few weeks we have been busy reviewing many of the pension drawdown plans we have arranged for our clients looking to see how they have weathered the recent the recent fall in global equity prices. The recent market correction was not a full-blown crash, probably not even a mini crash, just a short-term reaction to the possibility of an overheated US economy. We t ...
How should we react to a market fall
How should we react when there is an unexpected downturn in financial markets? This question was probably being asked by many advisers and their clients as global equity markets fell in the first weeks of February. At the time of writing, the fall in equity prices at the beginning of February appears to be a relatively small correction and far from a full-blown crash. The lat ...
Will 2018 be the year of the annuity after all?
Will 2018 be the year of the annuity after all? At the beginning of last year I asked the question; “Was 2017 going to be the year of annuity after several years of decline in rates and popularity”. In early January 2018 I reported “annuities are still in the doldrums and there are few signs that things will improve significantly in the next few months”. However by the 2nd we ...
Was 2017 the year of the annuity?
Was 2017 the year of the annuity? – no it wasn’t When I wrote an annuity update for Professional Adviser in January 2017 I posed the question “Will 2017 be the ‘Year of the Annuity’?” [https://www.retirement-planner.co.uk/228904/228904] This was because it seemed that annuities might improve and there would be renewed interest in annuities. Now, nearly one year later I can lo ...
Annuity conversation -
My faith in annuities has been restored following a brilliant call from a perspective client.
Recently, I received a call from a client who was researching the market for annuities and his interest and knowledge of the issues convinced me there is a strong case for annuities in the right circumstances.
Annuities - life after pension freedoms
Annuities - life after pension freedoms There are few people who like or understand annuities as much as I do, but that doesn’t stop me casting a critical eye over the annuity market. I hope I have been consistent with my support and criticisms of annuities over the last 25 years and I can sum up my view in one sentence: “There is a strong case for securing a guaranteed incom ...
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If you want to make the most of pension freedoms you should start planning ahead and make sure your financial affairs are in good shape in the years running up to retirement.William Burrows
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