Retirement: HMRC confirm higher GAD rate for women in Income Drawdown

HMRC has confirmed, that following the introduction in December of new EU rules outlawing gender discrimination in financial products, the maximum amount available to women from Income Drawdown plans, will rise to be in line with that rate available for men. However, HMRC have said that the new rules will be reviewed when they see how Annuity providers react to the Gender Discrimination Directive. Our advisers are here to help you make the right choice...

Retirement: Why Greece could prove another slippery slope for your pensions

For many of us the Bank Holiday weekend was a chance to relax, take things easy and consider how best to amuse ourselves in this great British weather of ours. But for voters in Greece and France it was an opportunity to elect a change of government, one which for people in the UK planning on retiring soon, could have significant implications. So how do the decisions of Greek and French voters, to elect anti austerity parties, affect your pension if your are planning to retire soon we hear you ask. Volatile stock market...

Annuity rates fall for a fourth year in a row

New research has shown that Annuity rates fell in 2011, the fourth consecutive year that a fall has been recorded. The figures, produced by the financial information firm Moneyfacts, show that for a 65 year old male, buying a standard Annuity where the income will remain level, the Annuity rate dropped by 8.4% in 2011. The fall was slightly less for a female, at 7.7%. Thinking of retiring or buying an Annuity?...

ECJ ruling will affect Annuity rates

The European Court of Justice (ECJ) has this morning ruled that gender cannot be taken into account by insurance companies when setting premiums. Not only will this affect things such as car insurance premiums, which are expected to rise for women and fall for men, it will also affect the Annuity rates offered to both men and women. Why does it affect Annuity rates? An Annuity is a method of turning a lump sum of money, generally from a Pension fund, into an income. Historically insurance companies who provide Annuities have used various factors, including age, gender and state of health to determine ...