Age 75 Annuity proposals – the good, the bad and the ugly
Ros outlines her views on the Government’s proposals to abolish the requirement to annuitise pension savings by age 75.
Abolishing age 75 Annuity Requirement unfair
Press Release explaining that the Government’s current proposals for abolishing the age 75 annuity requirement amount to a transfer of wealth to the very wealthiest pension savers from those lower down the income scale.
Response to Treasury Consultation on abolishing Age 75 Annuity rule
Ros’ formal written response to HM Treasury’s consultation on abolishing the requirement to buy an annuity by age 75, explaining that the proposals will represent a tax increase from 35% to 55% on pension savings for those outside the very wealthiest groups. The 55% tax is particularly unfair for basic rate taxpayers and should be re-thought.
Ending age 75 compulsory annuitisation – a great start
Ros’ blog on Citywire calling for far-reaching annuities reform, welcoming the pledge to end compusory annutiisation by age 75.
Ros calls for Annuity Reform
Ros is quoted by ‘Right Annuity’ calling for better regulation of annuity sales and more access to enhanced annuities.
Annuities Inquiry for FSA Consumer Panel
Paper sent to FSA Consumer Panel, suggesting a programme of research to identify consumer detriment and explore possible solutions in the annuity markets.
FSA drawdown fears ignore annuity risks
Ros’ comments following the FSAs report on Financial Risk, highlighting that the FSA seems to believe annuities are a ‘no risk’ product, whereas, in reality, they entail significant risks for purchasers who do not understand what they are buying. Click here to read the article on the Citywire website.
NESTs ignore annuities – but pension outcomes are vital
Ros wrote a blog for Citywire explaining the dangers for individuals auto-enrolled into NESTs. When they come to retire, nobody has thought through the annuity risks they face. Click here to read the article on the Citywire website.
Planning for Retirement – You're on your own
Ros was commissioned to write an independent report on the problems facing individuals who are trying to plan for their retirement. She covers the history of our pension system, the risks of relying too heavily on the stock market to deliver good pensions and discusses some of the misconceptions of pension planning. Do you know the difference between a pension fund and a pension? Do you know what options are available on retirement? Can you afford to gamble your future security? All these questions are touched on in the report. Copies of the report are available at www.metlife.com/rp
Is lifestyling fit for purpose for people's pensions?
Corporate Adviser asked for Ros’ comments on whether lifestyling products are suitable for pension investors who do not have an adviser.