income drawdown – pensionsandsavings.com

Are annuities fit for purpose?

February 2, 2014 Ros Altmann Comments 1 comment

2 February 2014 Last week, there was an important debate in the House of Lords, organised by Baroness Sally Greengross, head of ILC-UK, sponsored by Legal and General and attended by annuity providers, brokers, advisers and consumer groups. The topic was ‘Are Annuities fit for Purpose?’ On the panel were Tim Gosden and Kerrigan Proctor of Legal and General, Dan Hyde from the Daily Telegraph, Sue Lewis of the Financial Services Consumer Panel, Tom McPhail of Hargreaves Lansdown, Jane Vass…

Why everyone should consider income drawdown before buying an annuity

October 4, 2013 Ros Altmann Comments 0 Comment

What to do with your pension pot as you approach retirement is an important issue to explore. Most people don’t realise they don’t have to buy an annuity: All too often, people just assume they have to annuitise, and never engage with the important alternative options available to them. Annuities are irreversible: Once you have bought an annuity, you can’t change it. You will never have a second chance. Annuities won’t protect you against serious retirement risks: It’s like putting…

Potential good news for pensioners as gilt yields rise

September 16, 2013 Ros Altmann Comments 0 Comment

17 September 2013 Rising gilt yields and revised regulations could increase pensioner incomes from income drawdown by 50% But inflexibility prevents pensioners from accessing more of their money By the time they are allowed to, the opportunity may be lost Need to make drawdown more flexible and allow for ill-health Recent rises in gilt yields and Treasury rule changes for income drawdown mean people could now take much more money out of their pension funds than last year. This should…