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Hugh Nolan, Chief Actuary at JLT Employee Benefits, comments on FCA Pensions Freedom data: "Two thirds of maturing pension pots are under £30,000 and 70% of people with this level of funds are cashing them in entirely at retirement, with less than 5% buying an annuity. |
This is exactly what we expected to happen now that people are allowed to choose between a lump sum of say £10,000 or a pension of less than £10 per week. They might miss that little bit extra each week eventually but a significant one-off payment like this can transform someone's financial wellbeing overnight. “For those with pots over £30,000, 60% are choosing income drawdown options that might well generate 15% more income than a traditional annuity, with only a little extra risk. The main concern is that most people with funds over £30,000 are choosing partial drawdown and could run out of money if they live longer than they're expecting - which many will.
“At this moment, pension flexibility is giving everyone a real choice and people are definitely taking full advantage of this freedom." |
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| London Market risk leader | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| London Market risk management | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| Actuarial Pensions Advisory - Assista... | ||
| Flex / hybrid 2 days p/w office-based - Negotiable | ||
| Data-driven pricing analyst | ||
| Cardiff / hybrid 2-3 dpw office-based - Negotiable | ||
| Senior Pensions Administrator | ||
| Various UK locations / hybrid - Negotiable | ||
| Capital Actuary | ||
| London - £140,000 Per Annum | ||
| Reporting Manager - South East/Hybrid | ||
| South East, Hybrid - Negotiable | ||
| Project-oriented pensions consultant ... | ||
| Any UK Office location / Hybrid working, 2 days p/w in office - Negotiable | ||
| Senior BPA Leader | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Risk Settlement Project Support | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| Risk Settlement Lead | ||
| UK-wide / hybrid 2 dpw office-based - Negotiable | ||
| Pricing Analyst - Life Actuarial | ||
| South East / hybrid - Negotiable | ||
| Senior Actuarial Trainee | ||
| South East / hybrid 3 days p/w office-based - Negotiable | ||
| Head of Capital | ||
| London - £160,000 Per Annum | ||
| Actuary – Broker | ||
| London - £150,000 Per Annum | ||
| Senior Pricing Analyst - Travel Insur... | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| BPA Analyst - Non-actuarial | ||
| North West / hybrid 50/50 - Negotiable | ||
| Financial & Insurance Risk Actuary | ||
| Scotland / hybrid 2 dpw office-based - Negotiable | ||
| Pensions (Scheme) Regulation Director... | ||
| London or Birmingham with flexible hybrid working - Negotiable | ||
| Cross-Asset Structurer - International | ||
| Zurich - Negotiable | ||
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