All Annuities articles – Page 5
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News
Life expectancy flatlines for first time in decades
Life expectancy in the UK has flatlined in the last two years, according to the Office for National Statistics, with drops in the life expectancy of babies born in Scotland and Wales putting an end to decades of improving longevity.
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News
Lessons from Oz: Former regulator urges hybrid product adoption
A former deputy chairman of the Australian Securities and Investments Commission has urged UK defined contribution schemes to better protect members by developing default retirement products combining drawdown and lifetime income.
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FeaturesLloyds switches DGF for equities in default fund
Trustees of the Lloyds Bank Pension Scheme No.1 have overhauled the default offering for their defined contribution members, ditching a diversified growth fund for a 100 per cent equity allocation in the first years of saving.
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OpinionIndustry right to reject death by Isa
From the blog: MPs may have migrated to warmer climes to relax during the parliamentary recess, but the civil servants at HM Treasury have evidently been working away behind the scenes.
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OpinionDefault pathways strengthen freedom and choice, not weaken it
Members should always be encouraged to make an active choice about their retirement income, but we know not everyone will. Government should therefore provide clear principles to govern the creation of good-value defaults, says the Pension and Lifetime Savings Association’s Nigel Peaple.
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News
Pensioners underspending and bequeathing most wealth on death
Many older people are underspending in retirement, and are set to bequeath the majority of their wealth to younger generations instead, according to research by the Institute for Fiscal Studies.
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OpinionMistakes of annuity regime are being repeated
From the blog: The willingness of government and regulators to take a pragmatic approach to so-called pensions freedom will be tested over the next few weeks.
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Opinion
DC Debate Q2: Deferred annuities, retirement expectations and more
Five defined contribution experts talk about deferred annuity products, retirement expectations, and how the industry is adapting to people’s changing work patterns.
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Opinion
DC Debate Q2: Default retirement pathways, flexibility and guidance
Five defined contribution experts discuss default pathways, striking a balance between flexibility and secure income, and the importance of guidance at retirement.
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News
Smart Pension and L&G to develop first default retirement pathway
Default retirement pathways could become a feature of the UK pensions system as early as next year, as Smart Pension and Legal & General announce plans to develop a product combining drawdown and annuities.
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OpinionInaction on retirement defaults puts members at risk
From the blog: When discussing retirement pathways, the industry needs to ask itself two key questions: what is the goal of auto-enrolment, and what does success look like?
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Features
Has the industry kept its promise on at-retirement innovation?
Analysis: When the Department for Work and Pensions allowed the industry to block mastertrust Nest from entering the drawdown market in 2017, it did so with a proviso; the industry had to drive innovation itself.
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News
Savers misjudge lifespans, as experts call for comms overhaul
Savers are underestimating their life expectancy, with ‘survival pessimism’ potentially driving the unpopularity of annuities, according to a new report.
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News
UK could profit from Australia’s missed default opportunity
A default drawdown proposition rejected by the Australian government could offer “freedom from the pension freedoms” for unengaged savers who cannot afford advice at retirement, it has been claimed.
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Features
Pearson follows pack in targeting drawdown for DC defaults
The Pearson Pension Plan is introducing two new lifestyle options for its defined contribution members as they approach retirement, responding to a perceived demand for greater flexibility.
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FeaturesJLR drives down costs with DC strategy refresh
UK automotive stalwart Jaguar Land Rover has embarked on a complete overhaul of its defined contribution offering in a bid to drive down costs and improve member outcomes.
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OpinionHas the interest rate hike affected annuities?
From the blog: Planning for retirement is as important now as it has ever been. With the ageing workforce, interest rate hikes and the changing pension landscape, there are a lot of external factors weighing down on the retirement saving plans of savers.
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News
Freedoms still have industry in their grip: Top DC stories from 2017
Year in review: The sea change policy of freedom and choice brought in more than two years ago continues to dominate in the defined contribution world.
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News
UK has lowest net replacement rates of average earners in OECD
A new report has highlighted markedly low replacement rates for UK savers amid increasing pensioner poverty due to ill health, emphasising the importance of increased saving into private pensions.
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Opinion
DC Debate Q4: Mastertrusts, AE and more
Six defined contribution specialists talk mastertrusts, compulsion, and what lessons can be learnt from DC systems around the world.