Story by: Dominic Welling, FTAdviser
The baby boomer generation are not prepared for their financial future and many of them are concerned their finances will not last the duration of their retirement, according to Axa Wealth.
MGM Advantage's flexible income annuity product has been awarded five stars by Moneyfacts, the first company to receive the rating for a retirement income product.
The value of variable annuity sales fell to £1.05bn last year, according to research by consultants Towers Watson.
Women are failing to plan for their financial futures and should undergo a financial makeover, according to Defaqto.
The Association of British Insurers (ABI) has today (17 March) reported more customers than ever are benefitting from quicker processing times for pensions and annuity changes.
The value of variable annuity sales dropped to £1.1bn in 2009, however the number of policies sold increased marginally during the same period from 14,128 to 14,321, according to research from Towers Watson.
Annuity rates are entering a brief period of stability, with level annuity rates holding firm for a second month running, according to Tim Whiting of Alexander Forbes Annuity Bureau.
Sales of enhanced annuities increased to £1.79bn last year, an increase of 24 per cent on 2008, according to research by consultants Towers Watson.
Prudential has revamped its flexible lifetime annuity product, cutting the minimum purchase price from £75,000 to £35,000 with no maximum limit, to make it accessible to more customers.
Sales of enhanced annuities hit record levels in 2009, increasing by 24 per cent to £1.8bn compared with £1.4bn in 2008, according to new research from Towers Watson.
Not all Equitable Life policies are bad, in fact those holding retirement annuity policies and executive pension plans are onto a good thing
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