Annuity
Best Practice | 4 Aug 16
More pain for UK expat retirees as BoE cuts rates
The Bank of England (BoE) has cut interest rates by half to 0.25%, adding more pain to pension savers already hit by years of low returns.
Aegon UK to quit writing annuities, passes clients to L&G
The UK arm of Dutch insurer Aegon is to stop writing new annuities from the fourth quarter of this year, and has agreed to pass clients seeking the product onto Legal & General.
Retirement | 28 Jul 16
Money taken out of UK pensions more than doubles, says HMRC
The amount of money savers are taking out of their pensions has more than doubled in the three months to 30 June compared to the first quarter of the year, latest figures published by the UK’s tax office show.
Retirement | 21 Jun 16
Prudential pulls out of annuities open market
UK insurer Prudential will no longer sell annuities on the open market through advisers, a move which coincides with the end of a consultation into the government’s plans to implement a secondary annuities market.
Retirement | 10 Jun 16
Smaller pension pots hardest hit under pension freedoms
People in the UK with smaller pension pots could lose as much as 10% of their retirement savings paying fees under the pensions freedoms, while others are failing to shop around for the best deals.