Scrapping of annuities in April budget leaves experts reeling

Speculation has been rife for the future of the pension industry after Chancellor George Osborne released the April budget for 2014. Will the new freedoms bestowed to pensioners spell an increase in cruise package purchases? Sports cars? Or will people handle their pensions with care – even if they are not forced to buying into […]

FCA warns UK annuities market not working: But can they rectify the market?

Each year 420,000 annuities are sold in the UK, and now UK watchdog the Financial Conduct Authority (FCA) has pledged to shake up the GBP 14 billion-a-year market, after finding it “disorderly.” The news comes after an extensive review by the FCA which covered the 25 most popular annuities firms covering 98% of the market. […]

Pension Annuities at a Record Low

Earlier this month the Association of British Insurers revealed the annuities of all associated pension schemes. They claimed to have done so in order to create more transparency in the market and prevent potential pensioners from making a bad decision that will cost them a comfortable retirement. The annuities of all the schemes were at […]