Annuities
Five stories you may have missed this week
This week’s top stories include Prudential Retirement urging schemes to insure member benefits, and the Universities Superannuation Scheme submitting its 2018 valuation.
A clear direction of travel: How scheme de-risking will evolve in 2019
Two consultancies predict a further acceleration in the bulk annuity market in 2019. Kim Kaveh looks at what schemes should consider.
Exclusive: Smart Pension to launch financial well-being app
Smart Pension will roll out an online financial well-being application to help members make decisions about their money in Q1 next year.
Annuities the 'missing asset class' for sustainable retirement income
Retirees could benefit from more sustainable income and higher death benefits by including guaranteed income in the asset mix of their portfolios at retirement, according to research by Milliman.
LV= retirement sales down as DB transfer activity drops
LV= has seen a drop in sales for its retirement solutions products as defined benefit (DB) transfers dwindled, its half-year results have revealed.
High Court approves Royal London's GAR conversion proposals
The High Court has approved Royal London's plan to allow customers with guaranteed annuity rates (GARs) to convert their guarantees into a top-up for their pension pot.
Smart Pension and L&G to develop default retirement pathway
Smart Pension and Legal & General (L&G) have partnered to create a workplace pension retirement income product that will combine drawdown and annuities.
Three years on: Over-55s encouraged to save more by pension freedoms
Around one in ten (11%) workers aged over 55 say pension freedoms have encouraged them to save more since the rules came into effect in April 2015, Prudential has found.
Bulk annuity service launched in bid to revolutionise transactions
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
Prudential sells £12bn annuity book to Rothesay Life
Prudential has sold £12bn in annuity assets to reinsurance business Rothesay Life as part of its M&G demerger announced today.
FCA's latest annuity rules 'fundamentally' flawed
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Hymans Robertson expands risk transfer team with partner hire from Prudential
Hymans Robertson has appointed Michael Abramson as a partner and risk transfer specialist to grow its risk reduction offerings.
Top predictions for bulk annuities in 2018
The buy-in and buyout market is on course for a record-breaking year as demand continues to rise amid attractive pricing. Victoria Ticha looks at what to expect
Of Steel, Freedom and Choice
Andrew Warwick-Thompson says in Port Talbot we are witnessing the detrimental impact of extending Freedom and Choice to DB schemes
Fragmented policy undermines spirit of pension saving
The UK could face a retirement income crisis due to a lack of joined-up policy, according to research by the Pensions Institute. Stephanie Baxter takes a look at the findings
AE savers should default to drawdown at 55, annuities at 80, says CPS
The Centre for Policy Studies (CPS) has called for savers to be "automatically protected" in retirement by phasing them between drawdown and annuitisation.
Annuity yield index seeks to re-inspire confidence in market
An index has been launched by IRESS to compare annuity yields against equities, cash ISAs and drawdown.
Brexit subdues Q3 pension investments
The third quarter of 2016 saw new pension investments fall by £380m, bucking the trend of the previous two quarters.
Is partial annuitisation the best way to protect retirees?
The OECD believes annuities are part of the solution to prevent people running out of money in retirement. Michael Klimes asks how viable this is in the era of Freedom and Choice
How can members be empowered to avoid running out of money in retirement?
Charges and poor returns can seriously reduce the amount of income people have in retirement. Michael Klimes looks at what can be done to help avoid these pitfalls.
Government bins plans for secondary annuity market
The government has decided to scrap its plans to create a market for secondary annuities.
No systemic failure in enhanced annuity sales - FCA review
‘Small number' of firms asked to review sales
NEST consultation raises concerns about monopoly and competition
DWP's consultation into the future of NEST has generated some strongly contrasting responses about whether it should enter the at-retirement product market. Michael Klimes reports
What are the problems with existing default strategy design?
Sue Pemberton looks at how default fund design will need to evolve following Freedom and Choice.
