Source: Assureweb: All figures based on a 65 year old male, £60,000 pension fund, payable monthly in advance, no escalation or additional guarantee periods. The enhanced rates assume the client is a 20/day smoker with a previous history of heart problems

by Chris                Last year we saw the European Court of Justice ruling regarding the legality of gender-based pricing in insurance underwriting. The court ruled that taking into account gender when underwriting insurance products was discriminatory, and therefore should not be permitted under EU law. The ruling impacts on many forms of insurance including pension annuities. After December 21st of 2012, the practice of using gender as a factor when compiling a quote for an annuity will be prohibited...

You may be considering delaying the purchase of an annuity.  The volatile nature of stock markets and pension fund performance are just two factors that may make deferring seem an attractive option. So is now the right time to defer or should you purchase an annuity? There are numerous factors that need to be taken into account in deciding if now is the right time to buy or defer an annuity.  But one area that may be overlooked is your health status. If you currently qualify for an enhanced annuity,...

Delays in taking out an annuity could be costing pensioners up to £5,000 in income, it was reported in the papers last weekend.  Annuity rates have fallen by around 3% over the last two months, with an average £100,000 fund now generating £6,624 a year compared with £6,831 - an annual loss of £207 which adds up to £5,000 over 25 years. Despite falls in the FTSE 100, experts have warned that falling annuity rates pose the biggest risk. We agree that people should be concerned about market movements as they...