The changing face of retirement

The changing face of retirementNew data has confirmed just how different our retirement and working habits are becoming later in life. Figures from the Office for National Statistics (ONS) show that between 2008 and 2012 just over 350,000 people became newly self-employed, with baby boomers leading the way and accounting for over 80% of the rise. The ONS figures confirm a huge divide between the generations, with 37% of workers aged over 65 registered as being self-employed, compared to just 5% of 16 to 24 year olds. ...

Annuities: Buying an Annuity soon? 7 mistakes to avoid

iStock_000012131139XSmallEvery day we deal with new enquiries from people approaching retirement and wanting to take an income from their pension. We’ve got a huge amount of experience helping people arrange their Annuity purchase, as well as advising them on other retirement options, and we are seeing the same mistakes being made time after time. We thought we’d put together a quick guide, showing you the seven most common mistakes people make when buying an Annuity and how to avoid them. 1.    Not shopping around ...

Retirement: Annuity rates in record fall, again!

Any would-be retirees hoping for a break from falling Annuity rates will need to think again following the publication of a new report which shows record breaking falls in Annuity rates. The Moneyfacts Treasury Report: Personal Pension and Annuity Trends makes depressing reading for anyone approaching retirement, although people who bought an Annuity earlier in the year may well feel vindicated by their decision not to delay. According to the report, Annuity rates are heading for their biggest fall in a single year since 2002, having dropped by 8.6% for a male aged 65, since the start of the year. The ...

Annuities: Too many people still not shopping around for the best Annuity rate

New research from Age UK Enterprises, part of Age UK, has shown that the message about shopping around for the best Annuity rate is still not getting through to many people. The survey found that 31% of people who had already bought an Annuity, did not shop around for the best Annuity rate and that they were not told by their existing pension provider they might be able to get a higher income elsewhere. Falling Annuity rates make shopping around more important Over the past three years Annuity rates have fallen by around 20%, and by 7% over the past three months, making ...