Annuity

Retirement | 8 Apr 15

Major UK pension providers have reported a surge in customer inquiries following the new rules governing access to their savings with most seeking to drawdown some of their cash.

United Kingdom | 26 Mar 15

Annuity providers in the UK will be required to rank their product against their competitors in order to help consumers find out if they can get a better deal by shopping around.

United Kingdom | 23 Mar 15

The UK governments last budget before the election revealed plans to extend its pension reforms to allow existing annuity holders to sell their contracts from 2006, offered a range of new incentives to save and tightened rules on tax avoidance.

Retirement | 18 Mar 15

The UK government will remove tax restrictions on people who want to sell the income stream from an existing annuity from 6 April next year, effectively giving them similar freedoms as those soon to be enjoyed by those in defined contribution savings plans.

United Kingdom | 16 Mar 15

UK life companies have cautiously welcomed an announcement by UK chancellor George Osborne to give up to five million current pensioners the right to swap their annuities for cash in this week’s budget due on Wednesday.