Retirement: Annuities to remain a popular as new freedoms get a lukewarm reception

Annuities to remain a popular as new freedoms get a lukewarm receptionDespite the new ‘Pension Freedoms’ and an end the ‘death tax’ on pensions, it appears that many would-be retirees are far from excited about the changes. Research conducted by ICM on behalf of Aviva, has shown that whilst 78% of people over the age of 55, who have yet to retire, are aware of the pension changes, many feel they won’t be affected: 55% of those surveyed said the changes won’t affect them 54% won’t be altering their plans as a result ...

Automatic Enrolment: 6 tips to help you choose the right pension scheme

Automatic Enrolment: 6 tips to help you choose the right pension schemeTo comply with the Automatic Enrolment rules employers have to make a series of difficult decisions and none are harder than deciding which pension scheme to choose. It’s unlikely you are a pension expert, but unless you decide to outsource your Automatic Enrolment project to an adviser, that’s exactly what you will need to become. So how do you go about choosing the right scheme? What factors should you take into account? What are the pitfalls you should look out for? Here are six ...

Annuities: Fed up of “greedy” Annuity providers? Then consider other options

iStock_000008982661_ExtraSmallA couple of weeks ago the respected financial Journalist, Dan Hyde, revealed the results of a Daily Mail investigation into the profit margins of Annuity providers. To many people, the findings of the investigation were surprising: “Based on insurers’ own predictions, they claim to make £6,500 profit from every £100,000 of savings. But this assumes savers always pick the very best deal and live until they are 90.” “In reality, on average someone turning 65 this year will die when they ...

Pensions: Should the rules be changed to allow early access?

iStock_000017861768XSmallMost of us know we are not paying enough into our pensions, a fact confirmed by two recent reports. Firstly, annuity provider, Partnership, showed the average drop between pre and post retirement income is 40%, whilst figures from Aviva showed that 20% of people are not paying into any form of pension. There are many reasons why most of us are not putting enough money aside for retirement by paying into a pension; cost, apathy, and mistrust are three. Lack of ...