Offshore pension off limits in UK divorce ruling
Overseas pensions could be excluded from sharing orders during divorce proceedings after the England & Wales Family Court said that it has no power to make such an order.
Annuity
-
-
Some UK savers withdrawing ‘too much’ from pensions, says ABI
Some British savers are withdrawing too much cash from their pension pots and are at risk of running out of money within a decade or less, the Association of British Insurers (ABI) has warned.
-
More pain for UK expat retirees as BoE cuts rates
The Bank of England (BoE) has cut interest rates by half to 0.25%, adding more pain to pension savers already hit by years of low returns.
-
Aegon UK to quit writing annuities, passes clients to L&G
The UK arm of Dutch insurer Aegon is to stop writing new annuities from the fourth quarter of this year, and has agreed to pass clients seeking the product onto Legal & General.
-
Money taken out of UK pensions more than doubles, says HMRC
The amount of money savers are taking out of their pensions has more than doubled in the three months to 30 June compared to the first quarter of the year, latest figures published by the UK’s tax office show.
-
Prudential pulls out of annuities open market
UK insurer Prudential will no longer sell annuities on the open market through advisers, a move which coincides with the end of a consultation into the government’s plans to implement a secondary annuities market.
-
Smaller pension pots hardest hit under pension freedoms
People in the UK with smaller pension pots could lose as much as 10% of their retirement savings paying fees under the pensions freedoms, while others are failing to shop around for the best deals.
-
UK Treasury claims pensioners could lose £32k in Brexit vote
The UK Treasury has claimed a vote to leave the European Union could see almost £5,200 ($7,640, €6,835) wiped off the value of some pension pots.
-
UK outlines how new secondary annuities market will work
The UK government has set out the rules and regulation for its planned secondary annuities market which will allow holders to sell their scheme back to a provider or onsell the income stream to an FCA-authorised buyer.
-
UK gov’t to widen access to planned secondary annuity market
New rules proposed by the UK tax office for a planned secondary annuity market, expected to open in April 2017, will allow more people to participate than previously expected, experts said.
-
Just Retirement merges with rival in £1.4bn deal
British annuity providers Just Retirement and Partnership Assurance have completed a £1.4bn ($2bn, €1.8bn) merger which saw it relaunch on the London Stock Exchange Monday as JRP Group.
-
Almost £6bn withdrawn after UK pension reform, reports ABI
Nearly £6bn ($8.6bn, €7.6bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by the Association of British Insurers (ABI).