Annuities: Why delaying your Annuity purchase could be very costly

iStock_000006992053XSmallAs Annuity rates show signs of increasing, many would-be retirees might be tempted to delay their Annuity purchase, but new research shows this could prove to be a costly mistake. Figures from Annuity provider MGM Advantage, show that the lost income resulting from a two year delay in buying an Annuity, could take between 37 and 41 years to recover; well above the remaining life expectancy of the average retiree. Delaying an Annuity purchase As gilt yields have started to rise and Annuity ...

Budget 2013: Annuity incomes to fall on the back of more Quantitative Easing?

Falling profitsDespite small rises in Annuity rates over the past few weeks, yesterday’s Budget has dashed hopes that the trend will continue. Pension Annuity comparisons show that during February at least five Annuity providers have increased their rates, including a 3% rise from Aviva. However, gilt yields have dropped since their peak in the middle of February and there was more bad news yesterday, when in his fourth Budget, the Chancellor George Osborne, announced that the Bank ...

Retirement: Considering Flexible Drawdown? Three things to do before the end of the tax year

Considering Flexible Drawdown Three things to do before the end of the tax yearIntroduced a couple of years ago, Flexible Drawdown has given an additional option to would-be retirees, who want to convert their pension pot into an income. Essentially, Flexible Drawdown was designed to allow those people who qualify, greater access to their pension fund; in fact, unlike other options, it allows unlimited access. Flexible Drawdown rules Flexible Drawdown works in a very similar way ...

Guest Blog: IPM’s round up of SIPP news

IPMs round up of SIPP newsAs we are now settled into 2013, we would like to take this opportunity to wish you all a happy and prosperous New Year. 2012 was an interesting year for the world of SIPPs (Self-Invested Personal Pensions) and the indications are that 2013 is going to be equally as fascinating! With so many SIPP related topics around at the moment we thought we would put together an update note which covers the points you need to be aware ...