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    • Former MSE Helen
    • By Former MSE Helen 27th Sep 11, 2:29 PM
    • 2,324Posts
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    Former MSE Helen
    MSE News: Plans to improve annuity choice unveiled
    • #1
    • 27th Sep 11, 2:29 PM
    MSE News: Plans to improve annuity choice unveiled 27th Sep 11 at 2:29 PM
    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 ..."

Page 1
    • Loughton Monkey
    • By Loughton Monkey 28th Sep 11, 8:11 PM
    • 8,706 Posts
    • 12,428 Thanks
    Loughton Monkey
    • #2
    • 28th Sep 11, 8:11 PM
    • #2
    • 28th Sep 11, 8:11 PM
    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!
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