Choosing a pension provider

bobone

To everyone replying, thank you.

I am not hijacking my own thread but I have tried three times now to post a full response and am continually being referred to the "log in" page when I press the "submit" button (and my reply is wiped). Does anyone know how to resolve this problem?

If this short post succeeds then I will reply in a series of posts to avoid this problem. Apologies for this but it may be the only way I can communicate.

Proxy

Just Retirement are a perfectly sound company - however don't forget that they only offer Enhanced Annuities.

If you're looking for a standard annuity provider then any of the 'big five' - AEGON, Aviva, Prudential, Legal & General and Canada Life are all extremely strong businesses (if you're looking for an exception - then AEGON have taken a lot of Dutch government money)

But yes, see an IFA.

bobone

Success!

EdInvestor, thank you for your considered reply and to everbody else for the points made.

The comments on mutuals were interesting and relevant to me as I am also an investor in the Chelsea BS recently acquired by the Yorkshire ( I appear to have DNA that unerringly is attracted to hubristic management where investment is concerned).

If I placed any credence on the "time bomb" scenario promoted by C_Mababejive it appears to me that I would need to consider the gilts based drawdown alternative commented on by EdInvestor. I have asked my IFA to consider this option (based on my criteria that at the time of my death the fund be sufficient to purchase a 66% spouses pension based on an average OMO) but its conclusion was that a gross return of 9% was required which we both agreed was unlikely.

bobone

Re the comments on JR, I have seen nothing that contradicts the views expressed here. However, I am a great believer that business success is often underpinned by "sticking to ones last" and have some difficulty in reconciling the disparate business models required to provide both annuities and equity release in the same business.

Aegis

bobone wrote: »

To everyone replying, thank you.

I am not hijacking my own thread but I have tried three times now to post a full response and am continually being referred to the "log in" page when I press the "submit" button (and my reply is wiped). Does anyone know how to resolve this problem?

If this short post succeeds then I will reply in a series of posts to avoid this problem. Apologies for this but it may be the only way I can communicate.

Not a resolution, but if you copy your post before hitting submit, you'll at least have saved your work.

Proxy

Having Equity Release and Annuities works quite well in the same business actually. JR aren't the only ones - Aviva and Hodge Life (and Prudential until recently) also do the same.

Cash flows are almost equal and opposite and the risks are hedged against each other. Therefore a source of funding and profit generation are easier.

Of course there's an inherant risk in being a specialist in any market, though.

bobone

To conclude, unless there are collective mutual opinions on particular courses of action ( or providers as expressed by McNeff) I see myself , with some misgivings, following in the footsteps of the majority by accepting the best rate and trusting to the industry and the FSCS to rescue me when the next financial bombshell lands.

bobone

Aegis, thought of that but can't find a "save" button??

Aegis

bobone wrote: »

Aegis, thought of that but can't find a "save" button??

Just highlight the whole lot of text, right click and select "Copy". That way it saves on your computer until you copy something else.

bobone

jamesd,

1 Interesting final point you made re "sweet spots". Can you explain a bit more?

2 The experience with my wife's own pension was that multiple payments (albeit from the same provider) resulted in a slightly reduced total pension.