As there has been plenty of tinkering with the annuity rules since A-day in April 2006, with drawdown introduced and age limits for mandatory purchase of annuities shifted and later eradicated, it is important to be on top of the subject.

Also, with potential annuity clients being put off amid misunderstanding of commission charges, advisers need to choose their target market carefully and for this need to make sure they have strong product knowledge.

Answers supplied by Alan Higham, chairman of Annuity Direct, Dean Mirfin, group director at Key Retirement Solutions and Stephen Lowe, director of external affairs at Just Retirement.