A third of people who have already purchased an annuity intend to keep it despite government promises they can sell their right to the income for cash, according to a poll of 1,800 retirees.
While 33% indicated they would not sell their contract, 50% said they did not know what their plans were, the Tilney Bestinvest research found. The remainder - 17% - said they would consider selling...
The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.
The Department for Work and Pensions’ (DWP) consultation on improving defined contribution (DC) outcomes has garnered support from the industry, but many have warned of potential unintended consequences.
As DC schemes face increasing pressures to consolidate, David Snowdon says master trusts are the perfect home.
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
The pensions industry must personalise interventions and auto-enrolment (AE) conversations to prevent members from squandering their pots at retirement age, according to industry experts.