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Annuities News Stories

Retirement incomes still 27% lower than 2008 level

Updated: 31st October 2017 - First Published: 31st October 2017 A new report by Moneyfacts has revealed that while the total amount of money being saved into personal pensions has surpassed the pre-financial crisis high, the retirement incomes that are being delivered are still 27% lower than in 2008. Read More...

Shift from annuities to drawdown continues

Updated: 26th October 2017 - First Published: 26th October 2017 Annuities used to be the go-to way to secure an income in retirement, but thanks to the pension freedoms, that’s no longer the case. Indeed, demand for annuities has plummeted in recent years, to be replaced by income drawdown. Read More...

Drawdown overtakes annuities – but seek advice

Updated: 13th July 2017 - First Published: 13th July 2017 Once upon a time, annuities were the most popular way to secure an income in later life, but income drawdown is now growing in popularity - yet there are concerns many retirees aren’t making the right decision, with a lack of advice being key. Read More...

Drop in equity release rate could save over £32K

Updated: 04th July 2017 - First Published: 04th July 2017 If you’re looking to release equity from your home, we’ve got good news! The interest rates on fixed lifetime mortgages have fallen for the eighth consecutive month in July, to stand at 5.53%. Read More...

Just 22% buy an annuity – should you consider it?

Updated: 30th October 2017 - First Published: 10th May 2017 At one time, annuities were the go-to option for those planning their retirement income. However, thanks to the pension freedoms, annuities now feature well down the list of income options, but is such a product still worth considering? Read More...

Annuity rate rises boost retirement income by 11%

Updated: 03rd February 2017 - First Published: 31st January 2017 If you’re approaching retirement, you’ll probably be starting to think about the kind of income you could achieve. Well, we have good news, as average retirement incomes have risen by 11% in just three months! Read More...

Want an annuity? Your provider will help you pick

Updated: 28th November 2016 - First Published: 28th November 2016 Buying an annuity can be fraught with difficulty, but what if you still want a guaranteed income? The regulator is stepping in, so it should soon be easier to find the annuity that meets your needs – because your provider is going to help. Read More...

Annuity rates rally after tough few months

Updated: 08th November 2016 - First Published: 08th November 2016 Good news for those seeking a secure income in retirement: our latest analysis has revealed that annuity rates are staging a mini revival after suffering from heavy falls in recent months, so you’ll now be able to get slightly more from your savings. Read More...

Secondary annuity market scrapped

Updated: 19th October 2016 - First Published: 19th October 2016 The Government is cancelling plans for a secondary annuity market, citing concerns about consumer protection. Given there were fears that many could be ripped off – and that it wouldn’t be right for most – the decision has been largely welcomed. Read More...

2016 ILP Moneyfacts award winners announced

Updated: 23rd September 2016 - First Published: 23rd September 2016 The winners of the 2016 Investment Life & Pensions Moneyfacts Awards were announced last night at a glittering ceremony held at the Lancaster London Hotel, amid much expectation and excitement. Read More...

2016: the worst ever year for annuity income

Updated: 14th September 2016 - First Published: 14th September 2016 Tomorrow marks Pensions Awareness Day (PAD), yet our latest research doesn’t bode well for the sector – at least not for those seeking an annuity, with the data showing that annuity rates are on track for their biggest ever annual fall. Read More...

Annuity competition has never been weaker

Updated: 27th July 2016 - First Published: 27th July 2016 Our latest analysis of the annuity market has highlighted the challenging pricing conditions facing the sector, and suggests that competition has never been weaker – the combination of which has pushed annuity rates to fresh lows. Read More...

Why should you inflation-proof your pension?

Updated: 05th July 2016 - First Published: 05th July 2016 While there are many different types of annuity available, one of the most common denominators is whether you opt for a level pension or an inflation-linked alternative. But which one should you choose? Aegon is urging people to consider the latter. Read More...

People aren’t shopping around for their pensions

Updated: 10th June 2016 - First Published: 10th June 2016 The pension freedoms may have given people more choice when it comes to accessing their pension, but it seems that many aren’t fully exercising their right to choose, with research finding that a worrying number aren’t shopping around. Read More...

Retirement incomes fall 10% in just one year

Updated: 13th April 2016 - First Published: 13th April 2016 Reports of the rising popularity of annuities will no doubt come as welcome news, but what won’t be so welcome is the finding that the income received may not be as substantial as it once was, with figures showing a sharp drop in retirement incomes. Read More...

Yet more evidence of annuities’ rising popularity

Updated: 11th April 2016 - First Published: 07th April 2016 Last week we reported that annuities were coming back into fashion, and today we have yet more evidence to back it up! It’ll come as welcome news to many in the industry, as it seems that guaranteed income is still hugely desirable. Read More...

Annuities aren’t dead!

Updated: 30th March 2016 - First Published: 30th March 2016 The launch of the pension freedoms led many to predict the end of annuities, and for a while that looked to be the case. However, a year into things and it looks as though a reversal of fortune could be on the cards, with annuity sales on the rise. Read More...

Are annuities coming back?

Updated: 12th June 2017 - First Published: 02nd February 2016 Annuities were dealt a huge blow with the launch of the pension freedoms, but it seems that the tide could be starting to turn, with a growing number of people realising the benefits that having a secure income can bring. Read More...

Another poor year for annuity rates

Updated: 15th May 2017 - First Published: 11th January 2016 Our new research shows that 2015 was another poor year for annuity rates, as uncertainty created by the pension freedoms, low gilt yields and industry preparations for new regulations all took their toll on the market – with disappointing results. Read More...

Retirees are failing to shop around for annuities

Updated: 08th January 2016 - First Published: 08th January 2016 A new report from the Financial Conduct Authority, the UK’s financial regulator, has found that retirees are failing to shop around for annuities and income drawdown products, something that could have a worrying impact on finances in later life. Read More...

Secondary annuity plans have been unveiled

Updated: 15th December 2015 - First Published: 15th December 2015 After much speculation, the Government has finally unveiled plans for the secondary annuity market, a move that will offer the chance for more than 5 million people to sell their annuity and benefit from the same pension freedoms as everyone else. Read More...

Secondary annuity market is one step closer

Updated: 10th December 2015 - First Published: 10th December 2015 There’s been a lot of talk about the secondary annuity market and how it’ll work, but the latest update shows that it’s one step closer, with the announcement that seeking advice will be mandatory for those looking to sell high-value annuities. Read More...

Demand for annuities is still going strong

Updated: 10th December 2015 - First Published: 08th December 2015 The pension reforms may have seemingly heralded the end of the road for annuities, but it seems that consumers still crave the security that annuities can bring, with research finding that demand for a guaranteed income is as strong as ever. Read More...

State pension to rise – but is it all good news?

Updated: 19th December 2016 - First Published: 26th November 2015 The pensioners among you will probably be delighted by yesterday’s Autumn Statement, with Chancellor George Osborne proudly announcing that pensioner benefits will be maintained. But is it all it’s cracked up to be? Read More...

Annuities return to favour

Updated: 30th November 2015 - First Published: 04th November 2015 Following the introduction of the pension freedoms in April, many people voiced concern that this would spell the end of annuities. However, it seems that these fears were premature, and that annuity sales are actually now on the increase. Read More...

Annuity sales down – but demand could change it

Updated: 22nd October 2015 - First Published: 22nd October 2015 Do you want a guaranteed income in retirement? The definitive answer could well depend on how old you are, with research from eValue suggesting that demand for annuities could spring back in the years to come. Read More...

2015 ILP Moneyfacts award winners announced

Updated: 04th May 2017 - First Published: 16th September 2015 The winners of the 2015 Investment Life & Pensions Moneyfacts Awards were announced last night at a ceremony held at the Lancaster London Hotel, amid much expectation and excitement. Read More...

Retirement incomes are 7.9% lower than last year

Updated: 14th September 2015 - First Published: 14th September 2015 The pension reforms have given retirees far more choice over how they spend their pension, but this flexibility has come at the expense of those who still want the guarantee of an annuity, with the average income almost 8% lower than last year. Read More...

Do you qualify for an enhanced annuity?

Updated: 24th July 2017 - First Published: 16th July 2015 If you’re approaching retirement, you need to know how to secure an income for your post-work years. For some, annuities are the go-to option, but what if you could get an even better income? Well, you could – if you qualify for an enhanced annuity. Read More...

Standard annuity rates in surprise uplift!

Updated: 01st July 2015 - First Published: 01st July 2015 Annuity rates have been on a downward spiral of late, and the recent pension reforms left many people predicting that the situation would only get worse. Well, that may not be the case, because standard annuity rates have actually increased! Read More...

Annuity or drawdown – what would you choose?

Updated: 26th June 2015 - First Published: 26th June 2015 If you’re approaching retirement, chances are you’re thinking about how to secure a decent income throughout your post-work years. The recent reforms may give you more options, but the question remains – will you choose an annuity or income drawdown? Read More...

Confusion over annuity reforms

Updated: 25th September 2017 - First Published: 28th April 2015 How well do you understand the pension reforms? If you’re approaching retirement you’re hopefully starting to get a handle on things, but unfortunately many people aren’t. Read More...

Annuity rates at all-time low

Updated: 23rd April 2015 - First Published: 23rd April 2015 Just 17 days into the new pensions regime, Moneyfacts can reveal that average annuity rates have collapsed to all-time lows, something that could further influence retirees’ decisions when it comes to spending their pots. Read More...

Annuity selling could be popular

Updated: 26th March 2015 - First Published: 25th March 2015 Last week, the Government confirmed that annuity selling was in the pipeline. If the proposals are finalised, those already locked into an annuity will have the option to sell the income, and by all accounts, many would take advantage of the offer… Read More...

Will you sell your annuity?

Updated: 14th December 2016 - First Published: 16th March 2015 It’s been confirmed that one of the key measures of this year’s Budget will be a change in the law to allow pensioners to sell their annuities... Read More...

Enhanced annuity sales fall further

Updated: 23rd February 2015 - First Published: 23rd February 2015 The pension freedoms set to be introduced may be welcome news to those approaching retirement, but they’re posing significant issues to annuity providers. In fact, sales of annuities are already dropping – and they’re falling at a fast rate. Read More...

Will you buy an annuity?

Updated: 16th October 2017 - First Published: 29th January 2015 The countdown to the pension reforms has begun. From April, anyone aged 55+ will be able to access their pension savings as they see fit, and there’ll be no obligation for most people to buy an annuity. The question is, will you still want one? Read More...

Annuity rates fall further ahead of pension reform

Updated: 27th January 2015 - First Published: 27th January 2015 The pension changes announced in last year’s Budget were always going to have an impact on annuity sales, and rates would undoubtedly feel the impact, too. Research from Moneyfacts has shown just how quickly the effects have been felt. Read More...

What’s next for the pensions industry?

Updated: 07th January 2015 - First Published: 07th January 2015 The pensions industry has undergone a huge amount of change recently, largely thanks to automatic enrolment and the Budget opening up new flexibilities. The final freedoms will soon come into force, but what's next for the pensions landscape? Read More...

Retirees could lose £41K by not shopping around

Updated: 12th December 2014 - First Published: 12th December 2014 It’s hoped that the FCA's review into the annuities market, and the proposed changes, will lead to improved competition and better incomes for retirees - as research has found that failing to shop around could cost consumers a huge amount of cash. Read More...

Annuities market set for reform

Updated: 11th December 2014 - First Published: 11th December 2014 Choosing an annuity is one of the biggest financial decisions anyone will make, so it’s concerning to hear that the market isn’t working as well as it should for consumers. But, thanks to an in-depth review, reforms could be on the way. Read More...

Are annuities set for a revival?

Updated: 08th December 2014 - First Published: 08th December 2014 Since the new pension freedoms were announced in March's Budget, annuities have been given a rough ride. However, thanks to the latest changes announced in the Autumn Statement, it seems that annuities could be set for a revival. Read More...

Could you qualify for an enhanced annuity?

Updated: 04th September 2017 - First Published: 18th November 2014 If you’re approaching retirement, it goes without saying that you’ll want to maximise the income you receive. Opting for enhanced annuities could boost your income even further, but do you qualify? Read More...

The changing pensions landscape

Updated: 06th November 2014 - First Published: 06th November 2014 The changes announced in the 2014 Budget have had far-reaching implications for the pensions landscape. It’s widely expected that the annuities market will suffer a significant downturn, and both demand and rates have already been affected. Read More...

Warning for retirees as annuity rates plummet

Updated: 27th October 2014 - First Published: 27th October 2014 For those looking to secure a guaranteed income throughout retirement, getting a decent annuity rate is key. However, latest research from Moneyfacts has revealed that this may not be so simple, as annuity rates have plummeted. Read More...

Annuities vs drawdown – which is right for you?

Updated: 20th April 2017 - First Published: 23rd October 2014 For those approaching retirement, thoughts are undoubtedly turning to how to secure the right kind of income. Read More...

2014 ILP Moneyfacts award winners announced

Updated: 04th August 2017 - First Published: 26th September 2014 The winners of the 2014 Investment Life & Pensions Moneyfacts Awards were announced last night during a glittering ceremony held at the Lancaster London Hotel. Read More...

Fears over pension freedoms

Updated: 15th September 2014 - First Published: 15th September 2014 The new pension freedoms set to grace the market have been welcomed by many, but not everyone's convinced. Some are even warning that the reforms could have serious consequences, after witnessing a sharp rise in the number of income drawdown sales. Read More...

Annuity rates fall at fastest pace for three years

Updated: 10th September 2014 - First Published: 10th September 2014 Annuities have garnered a lot of negative attention recently. The only saviour will be if they start to offer savers a better return, but latest figures reveal that this may not happen any time soon. Read More...

Do you understand annuities?

Updated: 28th August 2014 - First Published: 26th August 2014 Changes announced in the 2014 Budget mean retirees have more flexibility than ever when it comes to choosing how to spend their pension pot. Annuities are just one of those income-generating solutions, but do you fully understand what they are? Read More...

6 things you need to know about annuity changes

Updated: 13th August 2014 - First Published: 13th August 2014 A few months ago the Chancellor announced the biggest shake-up to the pensions system in years, and it’s changes to annuities that caught a lot of pre-retirees’ eyes. But just what do they mean? We’ve broken it down for you. Read More...

Do you know your pension options?

Updated: 07th August 2014 - First Published: 07th August 2014 The changes announced in the 2014 Budget have revolutionised the pensions market. Those approaching retirement will soon have more choice about how to spend their pot than ever, but it seems that many are still unaware of the options open to them. Read More...

Shop around at retirement – or regret it

Updated: 17th July 2014 - First Published: 17th July 2014 Are you coming up to retirement? If so, thinking about how you’ll secure an income for your golden years should be at the top of your agenda. Read More...

Annuity reforms confirmed – but what do they mean?

Updated: 05th June 2014 - First Published: 05th June 2014 A highlight of yesterday’s Queen’s Speech was the confirmation that legislation would be put in place to change the way people can use their pension pots. But what does it mean for you? Read More...

Pensions: Keep your pot away from the tax man

Updated: 03rd June 2014 - First Published: 02nd June 2014 Tax can be a mind-boggling issue and it seems pensioners are being left in the dark when it comes to understanding what they will be handing over to the taxman from their pension savings. Read More...

Will you take control of your pension?

Updated: 15th April 2014 - First Published: 15th April 2014 Managing a pot of money and making it potentially last over three decades could seem like a daunting task, but it seems the UK public are welcoming the opportunity to become their own accountants. Read More...

The rise of the Bank of Gran and Grandad

Updated: 04th April 2014 - First Published: 04th April 2014 The Bank of Mum and Dad is a well-known resource for children that find themselves in financial difficulty, but what about the Bank of Gran and Grandad? This little-known financial reserve is becoming increasingly called upon. Read More...

Will you still want an annuity?

Updated: 27th March 2014 - First Published: 27th March 2014 Pensioners could well be rejoicing after last week’s announcement that they’re going to get more flexibility over how they can spend their pension pot, but the annuities industry isn’t feeling quite so joyful. Is there cause for concern? Read More...

The end of annuities? Not yet…

Updated: 25th March 2014 - First Published: 25th March 2014 The Budget announcement last week which, in effect, said that annuities would no longer be necessary, has led a lot of people to speculate that the market could come to a grinding halt. However, the death of annuities is far from on the horizon... Read More...

Pre-retirees to get help securing the best annuity

Updated: 12th March 2014 - First Published: 12th March 2014 Preparing for retirement can be a tricky task. Not only do you need to make sure you’re ready to leave work, both financially and mentally, but you need to give your retirement income a huge amount of consideration. Read More...

Annuity sales declining

Updated: 08th June 2017 - First Published: 19th February 2014 Purchasing an annuity has tended to be the most popular choice for those entering retirement, however figures from the Association of British Insurers (ABI) found that the popularity of annuities seems to be declining. Read More...

Annuity market isn’t working, says watchdog

Updated: 14th February 2014 - First Published: 14th February 2014 Purchasing an annuity is one of the biggest financial decisions anyone will have to make, but a review into the annuities market has revealed that the current system isn’t working. Read More...

Concerns about annuities

Updated: 12th February 2014 - First Published: 12th February 2014 “Shop around” is the most common piece of advice given to answer people’s concerns about annuities, with maximising income being a top priority. Read More...

No room for complacency when choosing annuities

Updated: 16th January 2014 - First Published: 16th January 2014 Moneyfacts data, published earlier this week, revealed that 2013 was a record year for annuity rates with it posting the first annual rate increase in five years. But, it also made clear that there’s no room for complacency… Read More...

Record year for annuity rates

Updated: 13th January 2014 - First Published: 13th January 2014 New research published by Moneyfacts has revealed that 2013 was a record year for pension annuity rates, being welcome relief for retirees who have seen the value of their pensions fall dramatically since 2007. Read More...

Retirees making cutbacks

Updated: 10th January 2014 - First Published: 10th January 2014 Research compiled by MGM Advantage has revealed the worrying state of retirees’ finances, with many having to make significant cutbacks in order to make ends meet and cover the rising cost of living. Read More...

Switchable annuities in the pipeline?

Updated: 07th January 2014 - First Published: 07th January 2014 Pensions minister Steve Webb has proposed radical changes to the current annuity system, which would give retirees the chance to switch annuities every few years rather than being locked in for the whole of their retirement. Read More...

FSCP calls for urgent annuity reforms

Updated: 09th December 2013 - First Published: 09th December 2013 The Financial Services Consumer Panel (FSCP) is calling for urgent change to the annuities system in order to “prevent millions of pensioners from losing out”. Read More...

Loyalty could reduce annuity income by over 20%

Updated: 04th December 2013 - First Published: 04th December 2013 A stark warning has been issued to those approaching retirement age – don’t automatically accept the annuity offered by your pension provider, as doing so could mean you’re left with a significantly lower retirement income. Read More...

Retirees better off since the financial crisis

Updated: 03rd December 2013 - First Published: 03rd December 2013 Figures released by the Office for National Statistics (ONS) have revealed that, despite working families seeing a drop in real income since the financial crisis hit, many retired households have actually seen an increase of some £900 per year. Read More...

Couples avoid discussing retirement plans

Updated: 20th November 2013 - First Published: 20th November 2013 Research from Prudential has revealed that almost one in five couples (or 19%) over the age of 40 have not discussed retirement plans in the last five years, whilst one in ten (11%) have never discussed it. Read More...

Calls for annuity advice to be a legal requirement

Updated: 28th October 2013 - First Published: 28th October 2013 Labour has called for the use of specialist independent financial advisers (IFAs) at retirement to be compulsory, with the aim being to ensure retirees get the best annuity rate, and therefore retirement income, possible. Read More...

ILP Moneyfacts announces 2013 award winners

Updated: 18th October 2013 - First Published: 18th October 2013 The winners of the 2013 Investment Life & Pensions Awards were announced last night at the Lancaster London Hotel at a special dinner hosted by TV presenter Patrick Kielty. Read More...

Annuity rates at two-year high

Updated: 17th October 2013 - First Published: 17th October 2013 Research by MGM Advantage has revealed that annuity rates increased by a record 6% during the third quarter of 2013, the largest quarterly increase since the Index began in August 2009. Read More...

RPI-linked annuity generates lowest total income

Updated: 12th December 2017 - First Published: 25th September 2013 Inflation-linked annuities generate the lowest total income over a retiree’s lifetime when compared to all other annuity options, according to the latest research by MGM Advantage. Read More...

70% of retirees eligible for better annuity rates

Updated: 12th September 2013 - First Published: 12th September 2013 People approaching retirement have been urged to be honest with providers when purchasing an annuity as this can have a huge impact on the rate they’ll be offered. Read More...

New tool launched to compare annuities

Updated: 22nd August 2013 - First Published: 22nd August 2013 For the first time ever those approaching retirement will be able to compare sample annuity rates from the UK’s leading providers using a tool on the Association of British Insurers’ (ABI) website. Read More...

Shop around for best annuity rate

Updated: 12th August 2013 - First Published: 12th August 2013 Almost 80% of people approaching retirement risk losing out on thousands of pounds by not shopping around for the best annuity rate. Read More...

Bank of Scotland fined for fax slip-up

Updated: 08th August 2013 - First Published: 08th August 2013 The Bank of Scotland has been fined £75,000 because of communication errors that led to customers’ personal details being sent to the wrong recipients. Read More...

Lack of confidence in pension savings pots

Updated: 12th December 2017 - First Published: 12th June 2013 Frank Sinatra once said “regrets, I’ve had a few”, and his sentiments appear to be echoed by many people planning their retirement at present. Read More...

Retirement gender gap widening

Updated: 27th November 2017 - First Published: 28th March 2013 New research has revealed the widening retirement gender gap, with women retiring with £6,500 less than men in 2013. Read More...

AUDIO: How FLS has subdued savings and ISA markets

Updated: 14th March 2013 - First Published: 14th March 2013 Sylvia Waycot, editor of Moneyfacts.co.uk, speaks to BBC Radio 4 Moneybox’s Paul Lewis regarding the diminishing number of savings products in the market and why she believes the Government’s Funding for Lending Scheme is mostly to blame. Read More...

Shop around for best annuity or risk losing out

Updated: 13th March 2013 - First Published: 13th March 2013 Annuity customers could be losing out on up to £750 million by failing to ‘shop around’ for the best deal, according to the UK’s largest insurer. Read More...

Sales of enhanced annuities soar

Updated: 19th February 2013 - First Published: 19th February 2013 Volumes of enhanced annuity product sales have boomed in recent years, according to latest research, rising from £3,019 million in 2011 to £4.48 million 2012. Read More...

Consumers urged to shop around for best annuity

Updated: 27th November 2017 - First Published: 05th February 2013 The Financial Services Authority (FSA) recently announced it is to conduct a ‘thematic’ review into the way annuity products are sold to ensure consumers are receiving the correct level of encouragement to ‘shop around’ for the best deal. Read More...

Shop around to find the best annuity deal

Updated: 27th November 2017 - First Published: 31st January 2013 It has never been a more important time to shop around for the best annuity deal, with average annuity incomes falling dramatically. Read More...

Annuity incomes suffer biggest fall for 15 years

Updated: 27th November 2017 - First Published: 18th January 2013 Research by Investment Life & Pensions Moneyfacts has revealed the average annual income of a standard annuity for a 65-year old male fell by 11.5% during last year, representing the biggest yearly fall since 1998. Read More...

Annuity rates rise for women after G-Day

Updated: 18th January 2013 - First Published: 08th January 2013 Women approaching retirement have seen an uplift in the income they can expect to receive from an annuity, new research from Moneyfacts has revealed. Read More...

Annuity rates drop by 20% in three years

Updated: 09th October 2012 - First Published: 09th October 2012 Annuity rates are in “free fall” according to latest data released by MGM Advantage. Read More...

Over 55s missing out on retirement income

Updated: 30th April 2012 - First Published: 30th April 2012 Millions of people aged 55 and over could be missing out on thousands of pounds in retirement income because they are unaware of the availability of enhanced annuities. Read More...

People to be given greater annuity guidance

Updated: 05th October 2012 - First Published: 05th March 2012 People approaching retirement are to be given much greater support to get the best possible income in their retirement. Read More...

Enhanced annuities becoming the advised choice

Updated: 05th March 2012 - First Published: 05th March 2012 Enhanced annuities are fast becoming the popular choice for those receiving professional advice. Read More...

Enhanced annuity sales grow to record levels

Updated: 27th February 2012 - First Published: 22nd February 2012 Sales of enhanced annuities grew to record levels last year and increased by almost a quarter compared with 2010. Read More...

Annuity warning over side effects of QE

Updated: 14th February 2012 - First Published: 14th February 2012 Pension experts have warned retirees they face an even trickier task to secure a decent retirement income after the Bank of England voted to pump an additional £50 billion into the UK economy by way of quantitative easing. Read More...

Poor pension choices mean ‘years longer’ at work

Updated: 05th October 2012 - First Published: 09th February 2012 High pension charges and choosing the wrong annuity could cut savers’ potential retirement income and mean spending years longer at work to cover the loss. Read More...

Bewildering annuity system costing people billions

Updated: 09th February 2012 - First Published: 06th February 2012 An annuity system that has been called ‘bewildering’ and ‘unfair’ is costing retirees billions, it is being claimed. Read More...

Annuity rates tumbled in 2011

Updated: 20th January 2012 - First Published: 09th January 2012 New research from Investment Life & Pensions Moneyfacts has shown 2011 was another poor year for annuity rates, with annuity income falling for a fourth consecutive year. Read More...

People to be encouraged to shop for annuities

Updated: 20th January 2012 - First Published: 20th December 2011 People are to be given more encouragement to shop around for an annuity to suit them, under new rules. Read More...

Retirees urged to shop around for best annuity

Updated: 20th June 2013 - First Published: 12th December 2011 Failing to shop around for the best annuity could see retirees miss out on half of the retirement income that they might potentially be able to secure. Read More...

Concern over lack of annuity awareness

Updated: 20th January 2012 - First Published: 05th December 2011 There is concern that millions of people could be missing out on much-needed retirement income as they are unaware of the benefits of taking an annuity. Read More...

Retirees urged to consider enhanced annuities

Updated: 20th January 2012 - First Published: 22nd November 2011 Thousands of retirees could be missing out on invaluable extra income in retirement because they are not taking advantage of enhanced annuities. Read More...

‘Shop around’ warning as annuity rates slide again

Updated: 10th March 2017 - First Published: 24th October 2011 Retirees have been urged to shop around for the very best annuity deals after it was revealed the income delivered by conventional annuities has dropped by more than 4% over the past three months. Read More...

Report lays retirees’ struggles bare

Updated: 21st September 2011 - First Published: 21st September 2011 Retirees have seen their incomes fall, savings drop and debts rise as they struggle to meet the rising cost of living, worrying new research has revealed. Read More...

Annuity rates take a tumble

Updated: 27th October 2011 - First Published: 11th July 2011 Annuity rates took a tumble in the three months from March to June, with enhanced products declining by more than 3.00%. Read More...

Half of Britons are unprepared for retirement

Updated: 27th October 2011 - First Published: 07th June 2011 Half of Britons are heading for a retirement shortfall, new figures have revealed Read More...

Annuities remain the way forward for most

Updated: 27th October 2011 - First Published: 14th April 2011 Annuities remain the most effective and safest form of retirement savings, despite changes made by the Government. Read More...

European Court forbids annuity discrimination

Updated: 27th October 2011 - First Published: 01st March 2011 Separate annuity rates for men and women will soon be a thing of the past, after the European Court of Justice (ECJ) ruled against gender discrimination. Read More...

Men could see annuity rates fall by almost 5%

Updated: 27th October 2011 - First Published: 28th February 2011 Men are facing the prospect of annuity rates falling by the best part of 5% as a result of an imminent European Court ruling. Read More...

Customers to get help with buying an annuity

Updated: 20th January 2011 - First Published: 18th January 2011 Pension providers will be expected to do more to encourage customer to shop around when looking for an annuity. Read More...

Annuity rate warning for soon-to-be retirees

Updated: 20th June 2013 - First Published: 12th January 2011 Soon-to-be retirees have been told they must shop around when securing their retirement income after it was revealed annuity rates fell for the third consecutive year in 2010. Read More...

Annuity rates continue to slide

Updated: 27th October 2011 - First Published: 13th December 2010 Retirees have been told they must shop around for the best annuity deals after annuity rates continued to drop lower over the past three months. Read More...

Compulsory annuitisation age scrapped

Updated: 07th August 2017 - First Published: 09th December 2010 Retirees will no longer have to purchase an annuity with their pension pot, the Government has confirmed. Read More...

Annuity rates continue to slide

Updated: 27th October 2011 - First Published: 26th October 2010 Retirees are facing a fight to maximise their retirement income as annuity rates continue to slide, new research by Moneyfacts.co.uk has found. Read More...

‘Illogical’ retirees won’t shop around for annuity

Updated: 10th March 2017 - First Published: 22nd October 2010 It is thought thousands of people are missing out on a better retirement income because of an illogical approach to shopping around for the best deals. Read More...

Retirees told annuity choice is in their hands

Updated: 20th June 2013 - First Published: 18th October 2010 People approaching retirement have been reminded of the importance of shopping around for an annuity, after annuity rates continued to drop lower. Read More...

Annuity alert for pension savers

Updated: 20th June 2013 - First Published: 11th October 2010 Pension savers have been urged to think carefully about their annuity options after research revealed more than half of UK adults aged 40-plus who are not yet retired could lose all or part of their private pension income if one partner dies. Read More...

Retirees having to rely on home comforts

Updated: 13th May 2011 - First Published: 01st October 2010 Workers over the age of 50 increasingly believe they will have to use the value in their homes to help fund their retirement. Read More...

Many could be missing out on retirement income

Updated: 20th September 2010 - First Published: 20th September 2010 Many people could be missing out on increased income from their pension funds as they are unaware that they could qualify for an enhanced annuity. Read More...

Retirees told to consider enhanced annuities

Updated: 27th October 2011 - First Published: 07th September 2010 Too many people with an existing medical condition remain unaware that they could qualify for extra retirement income by taking out an enhanced annuity, according to a pension industry expert. Read More...

Enhanced annuities lead the way

Updated: 27th October 2011 - First Published: 03rd September 2010 People are turning to enhanced annuities in greater numbers than ever before, with the products on course for a record year. Read More...

Annuity rates plummet to all time low

Updated: 20th June 2013 - First Published: 31st August 2010 The likelihood of securing a comfortable retirement has taken a further blow, after research from Moneyfacts.co.uk revealed that annuity rates have hit an all time low. Read More...

Hard-up retirees left to plunder their savings

Updated: 13th May 2011 - First Published: 23rd August 2010 Retirees and those soon to give up work are increasingly having to dip into their savings and investments to help them pay day-to-day expenses. Read More...

Don’t delay, search for an annuity today

Updated: 13th August 2010 - First Published: 13th August 2010 Delays in transferring pension savings into retirement income is costing pensioners up to £127 a week, it has been warned. Read More...

Annuity action urged over pension inflation fears

Updated: 27th October 2011 - First Published: 27th July 2010 People have been urged to think carefully about how to get the best possible retirement income from their pension savings. Read More...

Annuities to remain preferred retirement option

Updated: 27th October 2011 - First Published: 22nd July 2010 The Government may have recently outlined plans to scrap rules that require people to buy an annuity when they reach the age of 75, but for the majority of retirees annuities will still represent the preferred option for securing a retirement income. Read More...

More people enjoying faster annuity transfers

Updated: 27th October 2011 - First Published: 13th July 2010 More people are experiencing faster transfers than ever before when moving to a new pension or annuity provider, according to the Association of British Insurers (ABI). Read More...

Millions could be missing out on retirement income

Updated: 27th October 2011 - First Published: 05th July 2010 Millions of people could be missing out on additional income in retirement as they are unaware that certain medical conditions could entitle them to a higher level of pension provision. Read More...

Gap between best and worst annuities widens

Updated: 27th October 2011 - First Published: 28th June 2010 Retirees could be missing out on thousands of pounds as a result of poorly performing enhanced annuities. Read More...

Retirees told to shop around for annuity

Updated: 27th October 2011 - First Published: 20th April 2010 Retirees have been urged to shop around for their annuities, after it was revealed annuity rates continued to drop in the first part of the year. Read More...

Britons head towards pension shortfall

Updated: 27th October 2011 - First Published: 31st March 2010 Britons planning to retire in 2010 expect to get substantially less money than those who retired in 2009 and 2008. Read More...

Retirees embracing enhanced annuities

Updated: 27th October 2011 - First Published: 09th March 2010 More retirees than ever appear to be making the most of their pension benefits, after it was revealed sales of enhanced annuities in the UK rose to a record high last year... Read More...

MGM Advantage takes a bow on annuity red carpet

Updated: 08th March 2010 - First Published: 08th March 2010 MGM Advantage has put in an Oscar winning performance with the launch of its Flexible Income Annuity plan... Read More...

Annuity confusion sees retirees miss out

Updated: 27th October 2011 - First Published: 16th February 2010 People approaching retirement are missing out on millions of pounds in valuable retirement income as a consequence of their lack of knowledge surrounding annuities. Read More...

Annuity rates at record lows

Updated: 27th October 2011 - First Published: 24th November 2009 The prospects of securing a comfortable retirement have taken a further blow with news that pension annuity rates have hit an all time low... Read More...

Best annuity deals being missed

Updated: 13th October 2009 - First Published: 13th October 2009 Many retirees are could be missing on a significant sum of money by not considering the full range of annuity options available to them, new research has revealed... Read More...

Annuity transfer times lauded

Updated: 18th September 2009 - First Published: 18th September 2009 The average time it takes to complete pension and annuity transfers between providers is now 11 calendar days, a significant reduction on the average of 31 days seen during 2008... Read More...

Enhanced annuities lead the way

Updated: 27th October 2011 - First Published: 19th August 2009 Enhanced annuities pay out an average of 22 per cent more than standard annuities in annual retirement income, meaning a retiree could benefit to the tune of thousands of pounds by investing in such a product... Read More...

Annuity sales on course for record year

Updated: 13th August 2009 - First Published: 13th August 2009 Sales of enhanced annuities rose to £448 million in the second quarter of 2009, bringing the total sales in the first half of the year to £891 million... Read More...

Over 45s have appetite for retirement guarantees

Updated: 01st July 2009 - First Published: 01st July 2009 The vast majority of people aged 45 years and over feel that guarantees on their retirement are important to them Read More...

Flexible annuity demand going strong

Updated: 04th April 2011 - First Published: 04th June 2009 A study looking at independent financial adviser’s (IFA) views on retirement planning has revealed a significant uplift in those favouring flexible annuity products. Read More...

Enhanced annuities making themselves known

Updated: 28th May 2009 - First Published: 28th May 2009 People’s awareness of enhanced annuities appears to be growing after it was revealed sales of the product have continued to expand. Read More...

Annuity set up times tumble

Updated: 13th May 2009 - First Published: 13th May 2009 The average time it takes to complete annuity transfers between providers has been cut to just eight calendar days. Read More...

LV= delivers good news to customers

Updated: 21st April 2009 - First Published: 21st April 2009 LV= has said its annuity customers whose income is linked to the Retail Price Index (RPI) will not see a reduction in their retirement income despite the UK falling into deflation for the first time in almost 50 years. Read More...

Retirees missing out on almost £57 million

Updated: 25th March 2009 - First Published: 24th March 2009 UK retirees are missing out to the tune of almost £56.6 million by not taking advantage of enhanced annuities. Read More...

Popularity boost for variable annuities

Updated: 16th March 2009 - First Published: 16th March 2009 Sales of variable annuities, a relatively new type of retirement product to the UK, have more than doubled in the last year, latest research has revealed. Read More...

Annuities offer value despite quantitative easing

Updated: 10th March 2009 - First Published: 10th March 2009 Annuities are likely to offer better value than savings rates despite the effects of quantitative easing, consumers have been told. Read More...

Consumers with secured loan arrears need more help

Updated: 26th October 2017 - First Published: 05th February 2009 Those facing financial difficulty as a result of secured loans and other debt should be given more help, Citizens Advice has stated. Read More...

Mind the annuity gap

Updated: 27th October 2011 - First Published: 04th February 2009 A widening gap between the best and worst annuity rates available has highlighted the importance of shopping around for the best deal, according to Investment Life & Pensions Moneyfacts. Read More...

Drivers more likely to have an accident next week

Updated: 29th June 2017 - First Published: 28th October 2008 Direct Line, Britain's largest car insurer, has revealed that British motorists are more likely to have an accident in the week after the clocks go back. Read More...

Loft and Cavity Wall Insulation

Updated: 26th April 2017 - First Published: 23rd September 2008 Insulation - For just £199, Tesco customers can now have their loft or wall cavities insulated, cutting both their energy bills and their carbon footprint. The over 70s and people on benefits can receive the service for free. Read More...

Motorists Ways to Save Fuel

Updated: 29th November 2017 - First Published: 10th September 2008 Motorists are resorting to increasingly desperate measures to save fuel reveals. With petrol and diesel prices rising 20% in the past 12 months and the credit crunch forcing a tightening of belts. Read More...

Pension Term Assurance

Updated: 27th October 2011 - First Published: 10th August 2006 Standard Life has launched a pension term assurance (PTA) product which takes full advantage of the new rules applying to PTA payments, writes Richard Eagling. Read More...

Demutualisation proves costly for with profits pol

Updated: 12th April 2017 - First Published: 27th June 2006 With Standard Life members voting firmly in favour of the demutualisation of the UK’s largest mutual insurer... Read More...

Baby boomers’ equity worth £543 billion

Updated: 31st October 2008 - First Published: 27th June 2006 A new report published by Prudential and Datamonitor has revealed the crucial role that property could play in funding retirement, writes Linda Shorthose. According to the report a staggering 12.9 million people expect to use their property to fund at least part of their retirement, and 1.8 million will rely on it to make up over 50 per cent of their retirement income. As a result, property is now seen as more important than savings and investments in retirement planning. Read More...

Pension deficits reach three year low

Updated: 31st October 2008 - First Published: 27th June 2006 Positive stock market performance during March, combined with an increase in long-dated bond and gilt yields has reduced pension deficits for the UK’s 200 largest defined benefit (DB) schemes, writes Suzanne Greener. Read More...

NPSS tug of war begins

Updated: 31st October 2008 - First Published: 27th June 2006 Following the publication of the Turner Report at the end of November last year, there was the inevitable outpouring of opinion, conjecture and criticism regarding each and every aspect of the Pension Commission’s recommendations. The main focus of attention in the immediate aftermath was the raising of the State Pension age, but it is now the turn of the other key proposal of reform, the introduction of a National Pension Savings Scheme (NPSS), to take the spotlight. The Pension Reform Minister, Stephen Timms, invited key members of the financial services industry to give their opinions on the NPSS and present viable alternatives and, it is fair to say, they have not been shy in coming forward. Read More...

Consumer confusion over financial advice

Updated: 27th October 2011 - First Published: 27th June 2006 One year on from the radical shake-up of the financial advice market unleashed by the FSA through depolarisation, new research from IFA Promotion has revealed worrying signs. Read More...

A step in the right direction

Updated: 27th October 2011 - First Published: 27th June 2006 Finally, after three reports from Lord Turner’s Pension Commission, countless newspaper column inches and immeasurable amounts of discussion, Work and Pensions Secretary John Hutton has delivered the Government’s White Paper for pension reform. Read More...


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