Quote of the Week
"If, before every action, we were to begin by weighing up the consequences, thinking about them in earnest, first the immediate consequences, then the probable, then the possible, then...
Spain wants to link pension benefits to longevity, not inflation
Spain’s employment minister, Fatima Bañez, stressed that there would be no hike in the legal retirement age in Spain – which currently stands at 67 and is among the...
New York Life releases selected mid-year sales figures
New York Life remains the leading seller of fixed immediate annuities, with 32% of the market for first quarter 2013, and is the leader in sales of deferred income...
Sales of all fixed annuity products rise in 2Q 2013: Beacon
New York Life was the top-seller of fixed annuities in 2Q 2013, followed by Security Benefit Life, Allianz, American Equity and Great American Life, according to Beacon Research.
At Lincoln Financial, the dawn of a brand new DIA
So far, mutual insurers with captive agent forces have dominated the DIA space, so it may be significant that Lincoln, a publicly-held company with a big third-party distribution network,...
A New DC Concept from Denmark
'Smoothed income annuities' represent an entirely new retirement and wealth accumulation strategy for the private and occupational pension markets in the U.S., writes Danish actuary Per Linnemann, Ph.D.
Vanguard suggests SWiP option for DoL income illustration
“If the DOL requires lifetime income illustrations to be provided on participant statements, sponsors and service providers should have the flexibility to project retirement income using a systematic withdrawal...
IRI publishes brief guide to deferred income annuities
The IRI explains why people would purchase a DIA and how they can use DIAs (by creating sequential or overlapping layers of DIA income in retirement) to maintain inflation-protected...
French government tweaks its public pension—and European bureaucrats
Francois Hollande’s government conspicuously ignored some of the recommendations that the European Commission had made to it regarding pension reform.
Summer Is Almost Over. So Is QE
“The unwinding of QE is a place we have never been before," says Phil Chiricotti, president of CFDD. The effects, and the end, of quantitative easing were also on...
Financial service firms neglect ‘accumulators’: Hearts & Wallets
Only 16% of resources (budgets, headcount and management) are devoted to young investors, and only eight percent of firms offer a dedicated young investor focus similar to retirement income,...
We’re Still Accepting Nominees
RIJ is sponsoring an award for Innovation in Retirement Income, to be given by the Retirement Income Industry Association. We've extended the deadline for nominations to Wednesday, September 11.
Equities should continue to rise in third quarter: Prudential
Improvement in the corporate earnings outlook and supportive valuations were positive indicators for stocks, the report from Prudential global investment strategist John Praveen said.
Quote of the Week
“If economic conditions improved broadly as expected, the Committee would moderate the pace of its securities purchases later this year. And if economic conditions continued to develop broadly as...
Spoiler Alert
How I ruined a $250,000 mutual fund sale for a pair of Primerica reps, disrupting a transaction that may have been suitable but definitely wasn't fiduciary.
Outflows from bond funds accelerate
“The exodus from bonds suggests that if the Fed actually starts tapering—as opposed to just talking about doing something in the future—it might be more disruptive than Wall Street...
Study faults retirement and investment websites
Company sites that were evaluated included Ameriprise, E*Trade, Fidelity, Merrill Edge, Schwab, T.D. Ameritrade, T. Rowe Price and Vanguard.
Annuity Specs is now “Wink”
Wink’s portal for life insurance and annuity information is LooktoWink.com. Visitors can find the AnnuitySpecs and LifeSpecs tools, which provide product details and comparisons.
Nominate Your Favorite Income Product
RIJ is sponsoring an award to be given by the Retirement Income Industry Association this fall. Send us your nominees for the "most innovative income product" by September 6.
