Greater demand for drawdown has helped compensate for significant losses in annuity broking business at Hargreaves Lansdown.
Annuity income dropped from £7.7m to £4.7m for the year to 30 June, compared to a 35% surge in new assets into drawdown. The firm attributed this trend to the Budget reforms. Chief executive Ian Gorham...
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
The national procurement frameworks for the Local Government Pension Scheme (LGPS) has been expanded to include member data services.