Main Menu

Tag: annuities

U-turn on pension scheme

Government ditches annuity market plan

pension pot 2
The government has scrapped plans to allow the retired to sell their annuities..

Insurer to review sales

Standard Life may have mis-sold annuities

Standard Life
Standard Life is reviewing its annuity sales since July 2008 to identify whether it mis-sold them to customers...

Just Retirement sales up

Annuity sales ‘showing signs of recovery’

Pension provider Just Retirement says there has been a surge in sales of annuities, reversing the steep decline that followed the changes to retirement savings in April. READ MORE

Pension reforms prompt deal

‘Squeezed’ annuities groups unveil merger

Just Retirement
Just Retirement Group and Partnership Assurance are to merge as a result of the squeeze on annuities caused by the recent pensions reforms.

Firms feel impact of pension reforms

L&G latest insurer to take annuities hit

Legal & General suffered a 62% drop in annuity sales from £3.5 billion to £1.3bn, as a result of the pensions reforms. Despite the slump, half-year pre-tax profit came in 6%Read More

Freedoms hit some hard

Annuity incomes hit record low after pensions change

pension pot 2
Average income from a standard annuity has plummeted to a record low, a consequence of the new pensions freedoms. Single life annuity payouts fell by 5.7% over 2014, and that has accelerated toRead More

Shift in strategy by pensions giant

Legal & General: annuities sales to halve this year

Legal & General said it expects the sale of annuities to fall further this year after a 54% slump in 2014 following the Chancellor’s surprise change in pension rules. ItRead More

Pensions group 'well placed' for changes

Reforms see individual annuity sales fall 58% at Just Retirement

Just Retirement
One of Britain’s top sellers of annuities has seen a fall in income following the Chancellor’s pensions reforms which will no longer require retirees to buy one. Just Retirement, which hasRead More

Webb wants to extend freedoms

Retirees may get right to swap pensions for cash

Pensioners currently taking income from annuities may be able to sell them in exchange for a cash lump sum. The UK government, which is already introducing changes to pensions rules,Read More

'Still a place in the market'

Nucleus opts for bigger role in annuities

David Ferguson
The Edinburgh-based adviser-influenced wrap Nucleus Financial believes there is still a place in the market for annuities which some companies are abandoning ahead of the shake-up in pensions next year.Read More