Annuity provider MGM Advantage has revealed the UKâ€™s top overseas retirement locations, suggesting the ongoing trend to retire abroad is on the rise. At the top of the list came Spain, followed by France, Australia, Ireland and Cyprus.
The new regulations being implemented in the UK could have considerable implications on annuity rates, it has been discovered. Crucially, this could affect the overall retirement income of those considering retirement.
Pensions minister Steve Webb recently proposed a process in which a pension fund would follow a worker as they moved from job to job. However it has recently been warned that workers with smaller pension funds could risk missing out on much needed annuity advice.
Choose the death benefits carefully on your pension or the tax man could be your biggest beneficiary AFTER your loved ones say My Pension Expert.
The end of this year will see the inequality of annuity rates disappear between the sexes meaning male annuity rates could be hit.
A new study from Prudential has stated that women are concerned that they will not have enough funds to last them throughout their retirement.
As a society that continues to prosper and live longer, it is only so long before pension plans or annuities have to be considered. However, according to a recent study from MetLife, on average people spend only 7 days choosing a pension or annuity.
Retirement providers MGM Advantage have revealed that the main concern for retired clients, who use income drawdown, was the drop in their income following recent reviews.
Retirement advisors MGM Advantage have revealed that 60% of people aged 55 and over could potentially, due to having medical conditions that would qualify them for it, get an enhanced annuity. However, 72% said they were oblivious to the fact that lifestyle choices or certain medical conditions could allow them to be eligible for a greater retirement income.
More and more retirees are turning to fixed-term annuities as they look to combine income certainty with financial adjustability according to Just Retirement.
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