Aegon set to sell annuity book to Rothesay – report
Rothesay Life, the UK-based insurer is in exclusive talks to buy Aegon’s £9bn UK annuity book, Reuters has reported.
Annuity
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Retirement trends: The Twelve Days of Pensions
Embracing the festive season, Fidelity International presents to you “The Twelve Days of Pensions 2015”, outlining key retirement trends gleaned from customers calling its contact centre between July and November 2015.
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New UK secondary annuities market greeted with caution
The UK financial services industry has cautiously welcomed the government’s plans to extend its pension freedoms and create a new secondary annuities market by giving more than five million people the ability to sell their annuity from 6 April 2017.
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UK Gov’t to enforce advice requirement on annuity sales
The UK government has announced plans to make it mandatory for investors holding a sizeable annuity to seek financial advice before selling out of their scheme.
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Billions withdrawn under UK pension freedoms, but common sense prevails
More than half of the funds being invested under the new pension freedoms have been invested in income drawdown products, with the remainder buying annuities, reports the Association of British Insurers (ABI).
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L&G enters US pension risk transfer market
The US subsidiary of Dutch technology giant Philips has agreed a deal with UK insurer Legal & General and the US-based Prudential insurance company to guarantee annuity payments for 14,000 of its retirees and former employees.
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Lowes Financial launches structured deal with 10% payout target
Lowes Financial Management, in conjunction with Societe Generale and Mariana Capital, has launched a structured product based on the FTSE-100 index that offers investors the potential of a 10% annual return after three years.
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Legal & General boosts profits on funds management growth
British insurer Legal & General boosted net profits by 8% in the first half of 2015 due largely to growth in its international fund management operations and demand from UK firms looking for help with defined benefit pension schemes.
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Aberdeen AM hires former MP to new pensions role
Aberdeen Asset Management has hired the former UK shadow pensions minister Gregg McClymont to fill a new role as head of retirement savings.
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Relief at secondary annuity market delay
The government’s decision to delay the start of a new secondary market in annuities has been met with widespread relief by the pensions industry which is still grappling with how to implement the proposal.
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Royal London calls for more affordable financial advice
The need for affordable financial advice in the UK for savers who want to cash in medium-sized pension pots has intensified, said Royal London.
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Annuities set to weather UK pension reforms
Annuities are expected to see enduring demand in the UK despite the pension reforms in April, though most financial advisers forecast that drawdown products will become the more popular retirement option, according to new research from Canada Life.