Annuity providers pay your adviser a commission for arranging an annuity. The amount paid is usually around 2% of the amount used to buy the annuity. So if you are buying a £20,000 annuity and the adviser gets paid £400 and this s
A study by MGM Advantage (an annuity provider) has revealed the case for using the Open Market Option is stronger than ever. The Latest findings from the MGM Advantage Annuity Index1, which tracks the income paid on enhanced and conventional annuities on a
18
Apr
0
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Should Men annuitise before Gender Ruling comes into force?
Posted By: Chris Hallworth in Articles
The current rates for a £50,000 annuity (level, paid monthly, in arrears) for a healthy 65 year old are:
Male: £3,135 per annum (6.27%)
Female: £3014 per annum (6.03%)
So men get over 4% more, every year for life
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
Sales of enhanced annuities grew to record levels last year and increased by almost a quarter compared with 2010. Enhanced annuity sales in the UK totalled £3.02 billion in 2011. It is a vast improvement on the previous 12 months when sales amounted to
12
Oct
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Deferring an annuity – is it worth the gamble?
Posted By: Chris Hallworth in Articles
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
The Finance (No. 3) Bill was given Royal assent on 19th July.
There were no surprises in the Act from a pension viewpoint just the expected confirmation of the backdated provisions, effective from 06/04/2011, such as:
a) New Drawdown Pension
Reform of the open market option could help pensioners generate up to £7 billion in extra retirement income over the next 20 years, according to the Pension Income Choice Association (PICA). In evidence to the Workplace Retirement Income Commis
9
May
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Thousands hit by delays in pension pay-outs
Posted By: Chris Hallworth in Featured Projects
Former London black cab driver Tony Slotnick hoped his retirement would be free of worry - but he couldn't even draw his pension for three months because of blunders over arranging an annuity to turn his savings into an income for life.
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Recent Posts
- Commission Free Annuities Pay the Highest Rates
- The annuity gap widens
- Protected Rights are being scrapped from 6th April 2012:
- Should Men annuitise before Gender Ruling comes into force?
- Unisex annuity rates only 8 months away
- Enhanced annuity sales grow
- Why use the open market option
- Deferring an annuity – is it worth the gamble?
- Delays cost pensioners up to £5000
- Finance Bill given Royal assent
- £7bn would be released by OMO reform
- Thousands hit by delays in pension pay-outs
- A third face poverty in retirement
- EU Court Ruling – Cheaper Insurance Deals Based on Gender Are Illegal
- EU discrimination ruling will affect annuity rates.
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