5 reasons why Government abandoned secondary annuity market
...and one reason to be disappointed! The Government has announced that, after eighteen months in consultation and preparation, the planned launch of a secondary annuity market in 2017 is not now going to happen. The Treasury was right to suggest that ...
Simon Kirby asks for sympathy as millions of pensioners unable to cash in annuities
'They are interested in their profits and helping customers to get out of their annuities would not have been good for them. They are greedy fat cats driving around in their Aston Martins while we are stuck with annuities we were forced to buy. It is ...
Robbing workers of future pensions won't solve companies' problems
Moving from discretionary to guaranteed increases fundamentally altered the nature of DB pensions from a “with-profits” arrangement, to a deferred annuity. The cost of guaranteed annual increases, capped at just 5pc, was – wrongly – thought to be ...
Morgan Stanley edges closer to profit target as earnings jump
That means that the focus remains on costs, as Mr Gorman tries to strike a better balance between volatile income streams from trading and stickier, annuity-like revenues from wealth and asset management. Under a group-wide project known as Streamline, ...
The perils and pitfalls of pension drawdown
What is possibly less obvious to them is that there are good reasons for this decline, and it is not just about interest rates or annuity company profits. Interest rates are, of course, a major factor and we are currently in a very low interest ...
Pru's UK profits rise after quiting annuity market
Prudential UK's profits rose 8 per cent in the first half of 2016 following its decision to exit the annuity market because of stringent capital requirements. Results published today show operating profits in the life business increased to £473m, up ...
PruFund sales soar to push Pru profits to £470m
Prudential's profits driven by Asian demand for insurance
Asia spurs growth at Prudential as investors shrug off losses at money manager M&G Investments
This is Money
Savers see with-profits pensions slashed by 87%
This is Money
They have been hit by a toxic combination of plunging investment returns, which have left a gaping hole in pension pots, and a fall in rates on annuities, which turn their savings into an income for life. And to add to the misery for those still to ...
Is it time to take profits from surge in equities?
Higher share prices are also good news for the growing number of retirees who have taken out income drawdown schemes instead of an annuity. This involves leaving your pension invested in shares and other assets, while taking an income as you need it.
What does the falling pound mean for your savings, investments and mortgage?
Investors have been hit with a double-whammy as the price of the pound has tumbled, causing US shares to rise and bond prices to fall. The falling pound means shares in sought-after dollar-denominated stocks and sectors are suddenly more expensive.