Category Archives: annuity

Dip into your pension at 55 and you could be “pension non grata”.

Most people know they can draw the money in their pension pot from 55, and because they can – they do. Very few sustainable drawdown plans are established by people in their fifties and very few annuities. 55% of annuities … Continue reading

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Ruston Smith takes staff retirement seriously

I was glad to see Ruston Smith sticking his neck out in the pages of REBA. as Chair of the Tesco Pension Fund, Ruston has always been prepared to go the extra mile and say the things his peers shy … Continue reading

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We almost got a pensions dashboard….

It now seems unlikely that parliament will complete reading the Pensions Bill. The Bill introduces compulsion on employers to provide data to a pensions dashboard and it gives CDC the green light, at first for the Royal Mail and later … Continue reading

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Learning how to buy pensions.

Mark Ormston who works for Retirement Line has written an excellent blog on linkedin. This is my version of his blog. Are people taking sub-optimal annuity decisions? The figures in the circles are  taken from the FCA Retirement income data report … Continue reading

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What are deferred annuities and why do they matter?

  Cooper and Cumbo – Aussie dream team In a real example, an Aussie who bought a $10,000 deferred annuity at 65 would receive an annual income of $1741 a year from age 85, if they survived to that age. … Continue reading

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Annuities – don’t knock ’em!

Unwelcome news for anyone looking to turn their pension pot into a secure retirement income. Rates are down due to low bond yields but also because there’s less competition in the market, following the #pensionfreedoms. https://t.co/NWAqReWjMi — Josephine Cumbo (@JosephineCumbo) … Continue reading

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The cost of turning pot to pension

  I’m pleased to hear that Scottish Widows are planning to open their standard annuity product to the open market (previously only Scottish Widows customers could access this product). Their marketing people tell us It will be available directly from … Continue reading

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No one should ever have to buy a poor annuity again.

I’ve just read an article that could best be described as smug. It’s written by a lawyer in the financial regulation team of Foot Anstey – Alan Hughes. I don’t know Alan but I know his firm and have a … Continue reading

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One life – one retirement – two regulators

Yesterday’s Pension and Benefits UK conference kicked off with consecutive speech’s from TPR CEO Charles Counsell and the FCA’s Edwyn Schooling Latter. Counsell delivered a staid and unambitious rehearsal of tPR’s agenda and frankly I was bored. Schooling Latter spoke … Continue reading

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Pension Income’s best kept secret

Did you know that when you buy an annuity you can change your mind? No? Well neither did I. I thought that once you handed your money over to an insurer that it was it, an income for life with … Continue reading

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