PENSIONSANDSAVINGS.COM

13 August 2013 There is no control on annuity pricing, profits or risk margins People buying without an adviser at risk of poorest rates but don’t realise Insurers may be pocketing £100m each year from selling poorest value products As we move towards a world of defined contribution pensions, more and more people will be reaching retirement and having to find the best way to release money from their pension savings.  If we want auto-enrolment to work well, we need…

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The annuity you will be offered as standard by most pension companies will be a single life level annuity.  It usually offers the highest starting income (although if you have some health conditions you could get more with a different type) but this kind of annuity has many drawbacks which you may not understand.  Therefore, it is vital to think carefully before buying an annuity.  The best thing you can do is to get independent financial advice to help you…

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I’m doing quite a bit of work on annuities at the moment and just thought you might be interested in seeing some of my conclusions.  The current annuity reform agenda benefits the brokers and providers, not the poorly-informed consumers.  I’m particularly worried about future widows left with nothing because their husbands did not realise the implications of annuities. What do you think?  Do leave a comment below. 250,000 widows or widowers at risk in annuity market each year Annuity buyers…

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