5 reasons to delay retirement that aren’t related to your finances

When we look at reasons to continue working past traditional retirement age, it’s often money and pensions that are the focus. Yet, retirement has changed and there are many other reasons why you may decide to continue working in some way past the traditional retirement age. Research conducted by Aegon looked at global views on retirement. It found that half of Brits readily see themselves delaying retirement and continuing to work beyond the age of 65. In contrast, just 22% of workers in France see this future for ...

Annuities: Annuity rates set to fall?

iStock_000015874214_ExtraSmallAfter increases to Annuity rates in the first half of the year, prospective retirees, many of whom may have delayed their Annuity purchase in the hope of a higher rate, will be left disappointed if predictions that Annuity rates are set to fall come true. Annually, around 400,000 people buy an Annuity with their pension. An Annuity provides retirees with a guaranteed income for life, although over the past few years a number of factors have pushed Annuity rates lower: Increased longevity, we’re all living longer Low ...

Annuities: Why delaying your Annuity purchase could be very costly

iStock_000006992053XSmallAs Annuity rates show signs of increasing, many would-be retirees might be tempted to delay their Annuity purchase, but new research shows this could prove to be a costly mistake. Figures from Annuity provider MGM Advantage, show that the lost income resulting from a two year delay in buying an Annuity, could take between 37 and 41 years to recover; well above the remaining life expectancy of the average retiree. Delaying an Annuity purchase As gilt yields have started to rise and Annuity ...

Annuities: As Annuity rates pick up, should you defer your Annuity purchase?

As Annuity rates pick up, should you defer your Annuity purchase 150pxWhilst Annuity rates were falling the decision when to buy an Annuity was simple, most people did so as quickly as possible. But with rates starting to rise, albeit slowly, is there a case for delaying your Annuity purchase in the hope of a higher income? Annuity rate rises Let’s start by looking at what’s happened to Annuity rates so far in 2013. During the first few months of the year rates stayed pretty static. But over the ...