A 57% slump in individual annuity sales at Just Retirement has been largely offset by a rapid expansion of its buy-in and buyout business, according to the insurer's latest results.
Age Partnership has launched a service to gather member information for schemes exploring a medically underwritten bulk annuity deal.
Stephen Lowe highlights recent research by the Strategic Society Centre showing the importance of guaranteed income for many retirees.
The vast majority of people in the industry believe the tax treatment of pensions is an effective incentive for people to save for retirement, according to research.
Top stories on PP online this week include the merger of Just Retirement and Partnership, the rejection of upfront tax relief, and a 50% drop in deficit contributions.
Underwritten annuity specialists Just Retirement and Partnership are set for a £1.7bn merger after retirement flexibilities introduced in April triggered a collapse in the individual annuity market.
The government should ensure a decent guaranteed income is the default option for defined contribution (DC) retirees according to the Strategic Society Centre.
The weekly income gap between pensioners and the working-age population has narrowed to 8% over the past two decades, according to official figures.
Just Retirement and Partnership have seen sales of individual annuities collapse in the months running up to the introduction of the pension freedoms.
Insurers completed just £800m of buyouts and buy-ins in the first quarter of the year, according research from LCP, far below the £4.4bn written in the first quarter of 2014.