It is still not the year of the annuity! In January I wrote a piece asking if 2018 was going to be the year of the annuity? For the Chinese, 2018 is the year of the dog but in the UK, annuities have been in the dog house since pension freedoms and they look like remaining in the kennel for sometime to come. The case for annuities is getting stronger There are few people more en ...
Annuitisation; it shouldn’t be a secret
In last month’s article I said retirement advice doesn’t have to be black or white because there are solutions that bridge the gap between annuities and drawdown. I went on to say that I thought it was difficult to innovate annuities there was plenty of scope to innovate the way advice is delivered. I was very pleased to get a response from Peter Ellis at Just Retirement. He ma ...
Annuities & Drawdown - it is not black or white
Fixed term income plans – retirement options do not need to be black or white It seems that every time I go a conference there is someone talking about the need for innovation in retirement income plans. Having watched various product developments over the last 20 year it comes as no surprise to me that the elusive new plan which fits half way between an annuity and drawdown ha ...
Practice what I preach
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 ...
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 annuity ...
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 week ...
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 look ...
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 income ...
Interest rates up, annuities up!
With interest rates on the rise, annuity rates should increase as well.
But the question is by how much and when?
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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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