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
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Apr
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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
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
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Mar
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EU Court Ruling – Cheaper Insurance Deals Based on Gender Are Illegal
Posted By: Chris Hallworth in Articles
Insurers shouldn’t be allowed to take people’s gender into consideration when calculating premiums, the European Union’s highest court said.
The present system “works against the achievement of the objective o
If you’re a man and you’re approaching retirement, there’s a ruling due out in March from the European Court of Justice that you might want to keep an eye out for. The case being put before the court is to decide whether the pri
The most wide-ranging pension reforms for a generation were unveiled by the Government yesterday. Millions of workers will not be allowed to claim their state pension until they are 66 and companies will be required to automatically enrol staff in pension sc
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- 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
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- Delays cost pensioners up to £5000
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- Thousands hit by delays in pension pay-outs
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- EU Court Ruling – Cheaper Insurance Deals Based on Gender Are Illegal
- EU discrimination ruling will affect annuity rates.
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