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Annuities

It has been 16 months since I started advising clients again after a break of four years. Obviously much has changed after pension freedoms not least that annuities are less popular and drawdown has become the new default at retirement. This is not a problem nor an issue for a good adviser because they will always work out what is the best solution for the client rather than be ...

Annuity comparator makes it easier to shop around From 1 March 2018 every firm issuing guaranteed annuity quotes must comply with new rules set out in the FCA’s policy statement PS17/12. In simple terms, firms will need to ask customers for their consent to use personal information in order to produce an annuity comparator. The annuity comparator is simply a new type of annuity ...

Will 2018 be the year of the annuity after all? At the beginning of last year I asked the question; “Was 2017 going to be the year of annuity after several years of decline in rates and popularity”. In early January 2018 I reported “annuities are still in the doldrums and there are few signs that things will improve significantly in the next few months”. However by the 2nd week ...

Was 2017 the year of the annuity? – no it wasn’t When I wrote an annuity update for Professional Adviser in January 2017 I posed the question “Will 2017 be the ‘Year of the Annuity’?” [https://www.retirement-planner.co.uk/228904/228904] This was because it seemed that annuities might improve and there would be renewed interest in annuities. Now, nearly one year later I can look ...

Annuity conversation - 

My faith in annuities has been restored following a brilliant call from a perspective client.

Recently, I received a call from a client who was researching the market for annuities and his interest and knowledge of the issues convinced me there is a strong case for annuities in the right circumstances.

Annuities - life after pension freedoms There are few people who like or understand annuities as much as I do, but that doesn’t stop me casting a critical eye over the annuity market. I hope I have been consistent with my support and criticisms of annuities over the last 25 years and I can sum up my view in one sentence: “There is a strong case for securing a guaranteed income ...

With interest rates on the rise, annuity rates should increase as well.

But the question is by how much and when?

I am not in the business of making predictions of what the future holds for Brexit, but I think it is important to ask ourselves, and our clients, if we think the Brexit glass is half full or half empty because this will influence our approach to retirement advice.

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If you want to make the most of pension freedoms you should start planning ahead and make sure your financial affairs are in good shape in the years running up to retirement.

William Burrows

William Burrows

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