Week in Brief: Pension reform rumbles on, fresh advice firm fraud probe, and momentum for protection reforms.
Steve Webb quizzes pensions expert Ros Altmann about case to unwind annuities.
Comments compare at-retirement decisions to those encountered online shopping.
Pensions ombudsman criticises Aegon for “maladministration” over enhanced annuity purchase.
Value protection payments can be held until more favourable tax rules come in next Spring.
‘Non-advised drawdown is an accident waiting to happen’, says pensions expert and workshop panelist.
Analysis & Opinion
I find it hard to disagree with the sentiment that the industry has brought these consequences on itself.
Hal Austin, editor of Financial Adviser, reveals why annuity providers deserve what they get from the chancellor.
In a lot of the cases full advice should be recommended and would be well worth the expense.
The chancellor’s abolition of compulsory annuity purchase does not mean that annuities are no longer relevant for many UK savers, quite the contrary
More on Annuities
Retirement has all of a sudden become hot news.
Personal Pensions| Oct 17, 2014
“One of the lasting legacies of this government will be CDC,” pensions minister says.
Oct 16, 2014
Quotes and conversion rates remain below 50 per cent of pre-Budget levels.
Oct 15, 2014
Amount of tax-free cash that can be ‘recycled’ has been reduced, while Treasury is set to pocket £4bn.
Oct 14, 2014
Provider completes ‘defined benefit de-risking’ transaction days after confirming job cuts and scrapping a pay review.
Oct 13, 2014
Firm says flexible annuities are one of several options those at-retirement next April should consider.
Oct 13, 2014
They’ve been referred to as the biggest changes to pension tax rules for a generation, some say ever.
Oct 09, 2014
Consultant expects specialist annuity providers to develop drawdown products to drive money into annuities.