Below you'll find a list of all posts that have been tagged as “Retirement planning”
Applications could take 14 fewer days to process Legal & General (L&G) has launched a digital application process for annuity applications which it says could trim a fortnight off the time it takes an average case to complete. The provider said it had launched the digital process with a select number of firms and would roll it out in the …
The provider exited the annuity market in 2017 but is now selling a fixed-term product to advisers. M&G has re-entered the annuity market eight years after it stopped selling the retirement products, Citywire can reveal. The provider is launching a fixed-term annuity term product (between five to 15 years) for advisers’ clients, with a minimum lump-sum investment of £10,000. The launch …
Market forces combine to create an attractive environment for annuity sales. Annuity sales have reached a 10-year high and rose 24% from 2023 to 2024. Research from the Association of British Insurers shows that 89,600 pension annuity contracts were sold last year, representing a 24% increase on 2023. The total value of those sales, £7bn, also jumped from the year …
More joint life and inflation-linked policies purchased Total annuity sales reached £7bn in 2004, an increase of 34% year-on-year, according to latest data from the Association of British Insurers (ABI). Some 89,600 annuity contracts were written in 2024 surpassing last year’s total and reaching a new ten-year high, the body said. The ABI’s data also showed more annuity purchases occurred …
There is still a high propensity to seek an adviser in the future Nearly half (44%) of people who do not use a financial adviser have said that it is due to a lack of understanding of what they can offer them. This is according to the Intergenerational Wealth Report 2023 conducted by TIME Investments in January 2023 among 500 people – …
Payback period on a benchmark £100,000 annuity today is 14.5 years Current record annuity rate levels have pulled the break-even point for holders closer by five years, latest statistics show. Canada Life yesterday (26 June) published figures which reconfirm the significant improvement in rates over the last 18 months. These improvements mean the payback period on a £100,000 benchmarked annuity …
