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Pension Freedom was introduced in April, but some seven months on new figures show that it hasn’t solved one of the key problems faced by people when they retire.
Despite many people, including well respected industry experts, predicting their demise, large numbers of people are still using an Annuity to turn their pension pot into an income. However, the failure of many people to shop around since the introduction of Pension Freedom, has already cost £104 million in lost future ...
Pension Freedom was introduced in April, but some seven months on new figures show that it hasn’t solved one of the key problems faced by people when they retire.
Despite many people, including well respected industry experts, predicting their demise, large numbers of people are still using an Annuity to turn their pension pot into an income. However, the failure of many people to shop around since the introduction of Pension Freedom, has already cost £104 million in lost future ...
November 17th, 2015
Ask 100 pensioners if they want a guaranteed income in retirement and we’d suggest most would say “yes”. But ask the same people whether they would like to buy an Annuity and many will say “no”.
It’s fair to say that the term ‘Annuity’ has become somewhat toxic over the past few months; which is unfortunate as for many people it is still the best way to turn their pension pot into an income.
Even if you don’t think an Annuity is the ...
February 17th, 2015
Ahead of World Diabetes Day, on 14th November, new research has shown that UK diabetics are potentially missing out on thousands of pounds of income during their retirement.
The research by MGM Advantage, has highlighted the plight of diabetics who buy an Annuity without taking into account their illness.
Despite the changes announced by the Government an Annuity will still be a popular option for pensioners who want a guaranteed income in retirement. Those pensioners with health problems, including diabetes, can potentially get ...
November 12th, 2014
Every so often a newspaper prints a financial story which really captures the imagination of their readers.
Last Saturday such a story was published in the Telegraph under the dramatic headline: “Government made me squander £66,000 on rotten pension.”
You can read the full story by clicking here but it involved a Mr Miles who is in his 60’s and now regrets buying an Annuity with his pension fund, whilst bemoaning the fact that the new ‘Pensions Freedom’ won’t apply to ...
November 6th, 2014
