Forum Home» Pensions, Annuities & Retirement Planning

MSE News: Plans to improve annuity choice unveiled

New Post Advanced Search
Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.

MSE News: Plans to improve annuity choice unveiled

1 reply 1.3K views
This is the discussion thread for the following MSE News Story:

"New rules will come into force to help consumers get better deals when turning their pension into a regular income ..."

Replies

  • Loughton_MonkeyLoughton_Monkey Forumite
    8.9K posts
    Hung up my suit!
    ✭✭✭✭
    Well this might be a 'plus' in many cases, but a "bonanza" for those companies who offer the older guaranteed annuity rates.

    So they will no longer have to say "Your guaranteed annuity on your £100,000 fund will be £11,500 a year." So people will shop around, and get, say, £6,500 and think they have a good deal? Brilliant!

    Friends Provident, for example, will be laughing. ALready, they often quote the annuity at their 'market' rates (say 5.9%) whereas, a smaller print leaflet needs to be perused to understand that actually you will get 11%.

    Like a lot of 'regulation'. Well intentioned, but probably a sting in the tail!
This discussion has been closed.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support