Retirement: One off chance to top-up your State Pension, but is it a good deal?

Retirement: One off chance to top-up your State Pension, but is it a good deal?If you don’t qualify for the new flat rate State Pension, to be introduced in 2016, you are about to be offered a one-off chance to top up your State Pension by up to £25 per week. The move will give people, particularly those who have paid insufficient National Insurance contributions, the opportunity to increase the income they get from the state. “How ...

Retirement: If your Annuity adviser or broker doesn’t ask you these questions, it’s time for a change

Time to learn conceptual imageBuying an Annuity is a big decision; in fact it’s probably the largest single purchase you will ever make after buying your house. To add a little more danger or excitement, depending on your point of view, once you’ve bought a Lifetime Annuity it can never be changed. If you make a mistake, choose the wrong option, or don’t get the best Annuity rate, there’s nothing you can do ...

Pensions Minister keeps up pressure on Annuity industry

Steve Webb 1Steve Webb, the Government’s Pensions Minister, has continued to build up pressure on the Annuity industry, saying yesterday that “Annuities need a rethink.” The latest intervention from Mr Webb comes on the back of comments he made earlier in the month promoting the idea of a switchable Annuity, which would allow pensioners to change their Annuity provider much like someone might do with their mortgage or credit card. Annuity reform? A Lifetime Annuity, often simply referred to as an Annuity, is used ...

Annuities: Advised or non-advised, what’s in label?

Advised or non advised, whats in label?_iStockThe Retail Distribution Review, also known as the RDR, will come into full effect from 1st January 2013. We’ve already written about the effects of the RDR and our view that it will change the face of financial services. We thought we would now take a look at how the RDR will affect those people planning on buying an Annuity in 2013. Your options for buying an Annuity in 2013 There will be essentially three options for buying an Annuity:...