Equity release gains traction with IFAs
Equity release products are winning over an increasing number of independent financial advisers (IFAs), although suspicions about the proposition still remain.
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Goodey: product will fill £135bn gap in maturing funds market |
MGM unveils flexible annuity
MGM Advantage has officially launched its long-awaited flexible asset-backed annuity.
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Lowe: half of clients suited to a fixed-term annuity |
LV ‘legitimises’ fixed-term annuity
Living Time has praised LV for its new fixed-term annuity, after it became only the second company to launch such a product in the UK.
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Alzheimer’s is known to reduce life expectancy, but can also lead to increased care costs, which will affect the underwriting of annuities |
Alzheimer’s test to reshape annuities
A simple eye test used to diagnose Alzheimer’s disease is just one of several medical progressions that can be used to cost impaired life annuities
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Goodey: providers of asset-backed products have failed so far |
Annuities market to flourish
The annuity market is set to “explode” with new products and providers, according to this month’s survey.
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Solvency II fears cause Axa to pull annuity pilot
Axa has become the first annuity provider to defer a product launch because of concerns about the possible effects of Solvency II legislation.
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McPhail: providers must unite over open market option |
All sectors must commit to plugging OMO, says McPhail
Tom McPhail used his keynote speech at this year’s Pensions Management Retirement Summit to highlight the failure of providers to promote the open market option (OMO).
McPhail, chairman of the Pensions Income Choice Association (PICA), called for universal acceptance of the OMO from all sectors of the pensions industry, to help retirees capitalise on the range of options available.
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Annuities advice cannot meet demand
Continued innovation in the annuities market could still fail to provide for the lower end of the market, according to PM research.
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Callaghan: investors need to ensure they are receiving good value for money |
Drawdown makes its way to those with fewer savings
Investment-linked products such as income drawdown are becoming more accessible to those with smaller pension pots, according to new research.
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Turmoil sees savers turn to drawdown
The credit crunch is forcing financial advisers to rethink their approach to income drawdown and other risk-based products, according to responses to PM’s forthcoming income drawdown survey.
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Few benefits for Brits from QROPS
The only reason a UK resident should take up a qualifying recognised overseas pension scheme (QROPS) is for the death benefits, an overseas pensions specialist has warned.
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RDR receives tepid reception from industry
The Financial Services Autho-rity’s retail distribution review (RDR) has attracted tentatively positive feedback from respondents to PM’s annual lifetime annuities survey.
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Transfer times slashed
Annuity transfers now take an average of eight calendar days thanks to the Options initiative, the Association of British Insurers (ABI) has said.
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O’Connor: Hartford’s withdrawal is no reflection on the market |
Living Time promises shake-up of third way
Hartford’s exit from the UK variable annuity market could kick-start product innovation from its former rivals.
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Variable annuities are not the only answer, say experts
The announcement that Hartford Life is to withdraw from the UK market has received mixed responses from industry specialists.
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Hartford abandons four year third-way campaign
Hartford Life has suspended its retirement and investment business in the UK, citing turbulent markets as the catalyst.
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Pensioners short-changed by annuities, say experts
The annuity industry is “wholly failing” retirees due to lack of product innovation and the low uptake of the open market option (OMO), market experts have declared.
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Jones-Tinsley: the phrase ‘with-profits’ has become sullied |
Providers ditch ‘with-profits’ for more marketable labels
The unpopularity of with-profits annuities has led providers to shun the term in preference of less specific titles.
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