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Personal Finance Society
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01 Jun 2014
Urgent regulatory and government-led structural reform" is required to prevent millions of pensioners losing out when they buy annuities, according to the Financial Services Consumer Panel.
Technical articles | 12 Feb 2013
The ABI's new code of conduct on annuities is shortly to come into force, but will it provide the complete solution for the post-RDR consumer? Edward Murray investigates…
Technical articles | 01 Feb 2010
In 2008, more than 450,000 individual annuities were established in the UK using pension funds from one source or another. The total premium paid was £11.5 billion. The mean average purchase price of these annuities was £25,000 although interestingly 86% of funds were lower than £50,000.
Technical articles | 01 Jan 2010
The retirement choices available to clients have come a long way since the days of simply taking a tax-free lump sum and then buying an annuity with the remaining fund. As well as the option of purchasing a "conventional" annuity clients can now opt for unsecured pension, alternatively se...
Technical articles | 01 Sep 2008
Sales of enhanced annuities, including impaired cases, increased by more than 34% over the course of 2007, from £816m in 2006 to £1,095m. The trend of increasing sales has continued into 2008 with over £330m of enhanced or impaired annuities being sold in the three months to 30 June 2008, a...
Technical articles | 01 Jul 2008
The gap between level and RPI-linked annuities has widened. The top level annuity rate is 7.90%, while the best index-linked rate (from a different provider) is 4.76% as at mid-July 2008.
Technical articles | 30 Mar 2015
In his 2015 Budget Statement, the Chancellor of the Exchequer announced a proposal to allow individuals who were hitherto 'locked' into an annuity to exchange their future income stream for a capital sum. To kick of the process that will lead to this radical change, the Treasury published a...
Technical articles | 09 Apr 2014
The pensions reforms announced in the Budget were heavily influenced by concerns about the annuities market. Liz Booth looks at the FCA's annuities thematic review and impending market study.
Research | 27 Feb 2014
In February, the FCA published the results of a year-long study into annuities and other retirement income products. It identified a number of issues and is now proceeding with a more detailed market study.
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