New research has suggested that 10 per cent more people are likely to seek a guaranteed income – such as an annuity – than they were in the immediate aftermath of the introduction of pension freedoms in April this year. The latest index from financial forecasters eValue has revealed that 43 per cent are now exploring a guaranteed income post-retirement, …
Enhanced Annuity providers to merge
Specialist annuity providers Just Retirement and Partnership are planning a £1.7bn merger. The Enhanced Annuity providers are to merge and become the JRP Group, it has been announced today. The companies would raise £150m in equity even though they anticipate annual savings of £40m at a one-off cost of £60m. Both are comfortably capitalised on paper. But meeting the EU’s …
Pension Freedom: savers withdraw £1 billion
Since the chancellor, George Osborne announced the government’s new Pension Freedoms in 2014, savers have withdrawn over £1 billion from their pension funds. In response to questions in parliament, Osborne said 60,000 people had made use of the new freedoms, which allows savers to access their whole pot from the age 55. It’s the first time the government has disclosed …
Five reasons to buy a pension annuity
After a lifetime accumulating pension savings, you reach the point when those savings must provide a regular income for your retirement. Recently the options have become much broader, but the most traditional route – the annuity – is refusing to go quietly. Here’s why. Consider your pension fund, built up over a working lifetime. On retirement, you could simply draw …
Budget 2014 – Retirement options
There’s a lot to understand when it comes to retirement and because you’re approaching your selected retirement date, you’re soon going to have to choose what’s best for you. Life feels better when you have a plan and the more you understand your options, the better prepared you could be. And that’s where we can help – Retirement Professionals is …