Automatic Enrolment: Employers “lack knowledge and are unengaged”

Auto EnrolmentNew research has uncovered a staggering lack of engagement and knowledge amongst employers on Automatic Enrolment. The survey, conducted by Defaqto on behalf of Now: Pensions, shines a light on the attitudes of employers, as seen by Independent Financial Advisers, towards Automatic Enrolment. The survey of 264 IFAs found that: Our advisers can help you make the right decision...

Annuities: 12 things you will have to do yourself if you don’t use an IFA to arrange your Annuity

iStock_000016864850XSmallIf you are approaching retirement and considering how to turn your pension pot into an income, one of the main routes open to you is an Annuity. Whilst most people focus on getting the best Annuity rate, this is only part of the story; there is much more to this decision than meets the eye. Let’s start with the basics, how can you buy an Annuity? There are three ways:...

‘In the Spotlight’: Frank Field on non-advised Annuity brokers

UntitledThe Annuity market has hit the headlines in recent weeks, with many people questioning the fairness of the current system. However, it was still a surprise when it was revealed last week, that Frank Field, Labour MP for Birkenhead and former Minister for Welfare Reform under Tony Blair, has written to the Office for Fair Trading (OFT), requesting a full investigation into the non-advised Annuity brokerage market. In his letter to the OFT, Mr Field said: “I am writing to you about the UK pension Annuity brokerage system, which ...

Annuities: Why accepting the first offer could cost you thousands

iStock_000003051325_ExtraSmallNew research from Investment Sense shows our typical British reserve could be costing retirees thousands of pounds over the rest of their life. The benefit of shopping around and finding out whether you qualify for an Enhanced Annuity when you retire has been well documented. But if you want the very best Annuity income you or your adviser need to do more. Our research shows Annuity providers are routinely quoting lower incomes, only to increase significantly, often by thousands of pounds each year, ...