The recent announcement by Prudential indicating it was pulling out of the annuity market is a sign of the times, as it joins other big name providers such as Standard Life and LV=.
Since the pension freedoms were introduced, the annuity market has shrunk as those reaching retirement increasingly opt for the flexibility offered by income drawdown.
This report will outline what has happened to the annuity market after the government set out its reforms in 2014 and why there is still a market for annuities as investors continue to seek a reliable income throughout their retirement and as they live for longer than ever before.
It will also look at how to choose the best annuity which offer a range of options, particularly to those suffering ill health.
The next few years will be an interesting time for annuity providers who may have to innovate and develop these guaranteed income for life products if they want to continue to meet retirees' needs.
Contributors to the report include: Andrew Pennie, head of pathways at Intelligent Pensions; Fiona Tait, pensions specialist at Royal London; Andrew Simon, executive general manager, product at IRESS; Andrew Tully, pensions technical director at Retirement Advantage; Stephen Lowe, group communications director at Just; Jinesh Patel, vice president, investment consulting, at Redington; Kim Lerche-Thomsen, chief executive at Primetime Retirement; Mike Morrison, pension expert at AJ Bell; Natanje Holt, retirement expert at Bravura Solutions; Simon Bashorun, financial planning team leader at Investec Wealth and Investment; Iress Retirement Report; Prudential.