The former Pensions Minister has attacked the Government's decision to abandon a “potential lifesaver” for thousands of people.
Annuities may become the most popular option for retirees if Britain exits the European Union in June, the founder of eValue believes.
Annuities may have become somewhat downtrodden with doom and gloom predictions since the pension reforms kicked in but new research suggests the younger generation are willing to give them a fair hearing.
The ABI says that sales of annuities have risen in recent months, according to its latest pension report published one year after the Pension Freedoms.
The returns people receive when selling their annuities are likely to be “very poor”, the managing director of a pensions firm has warned, after reforms were confirmed this week.
The standard annuity rate rose to its highest level for the whole of 2015 during June, according to figures released this morning.
Protection for the rights of dependents and beneficiaries particularly vulnerable older people must be cemented before secondary annuity market plans go ahead, the ABI says.
Incoming Pensions Minister Ros Altmann has been encouraged to include a new Workplace ISA into the auto-enrolment legislation by the Centre for Policy Studies.
Chancellor George Osborne has confirmed in his Budget today that 5m people will get the freedom next year to sell on their annuities for cash.
A final report on the 'failing' market for retirement income is being drawn up by FCA officials.
News from Twitter
Articles by Keyword
AJ Bell
AMPS
annuities
Autoenrolment
Barnett Waddingham
Curtis Banks
DWP
FCA
FOS
FSCS
Hargreaves Lansdown
HMRC
James Hay
Lisa Webster
Mattioli Woods
Pension
pensions
pension transfers
Platforms
regulation
retirement
retirement planning
Sipp
Sipps
Ssas
The Pensions Regulator
TPR
Webster
websterblog
Xafinity