Pensions - Articles - Annuity now or annuity later?


 Scottish Life, the pensions specialist business of the Royal London Group, is highlighting a flexible solution which advisers may want to consider when faced with a common retirement problem.

 Fiona Tait, Business Development Manager at Scottish Life, says:

 "Traditional retirement is changing. People need more flexibility when it comes to their retirement options. Taking an annuity immediately on reaching 60 or 65 is not the right option for every client."

 Key issues in today's retirement market include:

 -people are living longer in retirement; their income needs will change over time
 -annuity rates are around the lowest levels in 20 years
 -protecting annuity income against future inflation can be expensive
 -buying an annuity is a final decision; there's no way back.

 Fiona Tait explains:

 "Although there are risks involved, and it isn't suitable for everyone, income drawdown can be useful as a flexible alternative for many people, bridging the gap until they are ready to purchase an annuity.

 "As the market's top provider1, Scottish Life has created a unique, new income planning tool for advisers to use."

 The income planning tool is:

 -easy to follow, with a compliance-friendly process
 -designed to assess a client's attitude to risk and capacity for loss
 -able to support the adviser's ongoing review process.

  

Back to Index


Similar News to this Story

94 percent view State Pension as an entitlement not benefit
Majority of adults aged 66+ say that Triple Lock is affordable and fair to older generations. Around one in seven rely on the State Pension to provide
Fair play off the pitch
Male players in the English Premier League earn an average of more than £3 million per year, while their female counterparts average around £47,000. T
Why Bitcoin matters to Pension Schemes
Back in November 2024, Cartwright Pension Trusts announced its role in facilitating the first-ever UK DB pension trust investment in Bitcoin. With the

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.