Tag Archives: annuity

Were you thinking of retiring?

Posted on April 2, 2020 by

For a lot of people my age (58 going on 59), retirement was looking a cert. Now I and many like me, will have to think some more, save some more and maybe be a little less cocky about our … Continue reading →

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Is MaPS creating a UK Financial Wellbeing Movement?

Posted on March 19, 2020 by

At this time of crisis , we need to be deploying our resources to meet the immediate needs of our customers and MaPS should be no different Continue reading →

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

Posted on January 19, 2020 by

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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“Evolution not revolution” as important for what it omits as what it says.

Posted on November 16, 2019 by

My view when I started this morning’s blog #Poole #Dorset #NovemberToMember pic.twitter.com/wpLW4EIcjy — Pension Plowman (@henryhtapper) November 16, 2019  I finished reading “Evolution not revolution – five years of freedom” sensing something had been missing. That something has just come … Continue reading →

Posted in age wage, dc pensions, defined ambition, defined aspiration, pensions | Tagged , , , , , , , , | 4 Comments

What are deferred annuities and why do they matter?

Posted on October 2, 2019 by

  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 →

Posted in advice gap, age wage, annuity, pensions | Tagged , , , , , , , | 4 Comments

Pensions and the power of patience

Posted on September 29, 2019 by

  There is a polarisation going on when people come to draw their retirement savings and these figures show it very well. Those who want their money early (55-64) want the money in their bank account or at an enhanced … Continue reading →

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Should DC investment strategy be driven by pot size?

Posted on September 28, 2019 by

The FCA’s latest market data was published last week and it’s highlighted trends that I’ve been identifying on this blog for a few months. Just over 645,000 pension plans were accessed to buy an annuity, move into drawdown or take … Continue reading →

Posted in advice gap, age wage, consolidation, pensions | Tagged , , , , | 2 Comments

Annuities – don’t knock ’em!

Posted on September 12, 2019 by

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 →

Posted in annuity, pensions | Tagged , , , | 4 Comments

The cost of turning pot to pension

Posted on September 5, 2019 by

  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 →

Posted in actuaries, age wage, annuity, pensions | Tagged , , , , | 4 Comments

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

Posted on September 1, 2019 by

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 →

Posted in advice gap, age wage, annuity, pensions | Tagged , , , , , | 7 Comments