Building a Personal Pension, a Month at a Time
Recent filings show that Prudential plans to launch a direct-sold, auto-pay, multi-premium fixed deferred income annuity called GIFT, or Guaranteed Income for Tomorrow.
Annuity Sales Declined in 2017: LIMRA
Structured annuity sales increased 25% in 2017, to $9.2 billion, but indexed annuity sales fell year-over-year for the first time since 2009, according to the LIMRA Secure Retirement Institute.
Poland unveils retirement system overhaul
Poland is preparing to use auto-enrollment to move workers into a new kind of employer-based defined contribution plan, with mandatory employer and employee contributions. The 20-year-old system of diverting part of the payroll tax to so-called OFE funds would vanish.
Principal’s Mexico retirement business acquires MetLife’s
After the purchase, Principal in Mexico will manage around 3.4 million individual accounts for retirement with the equivalent of US$12.3 billion of assets under management at the current exchange rate of Mex$18.65 to US$1.
IRI Presents its Lobbying Goals for 2018
The Insured Retirement Institute, which advocates for the interests of manufacturers and distributors of annuities on Capitol Hill, held a somewhat muted press conference this week.
Brighthouse offers new VA rider
FlexChoice Access offers a 5% compounded annual deferral bonus for the first 10 contract years. Contract owners can choose whether to receive level payments for life or higher withdrawals early in retirement.
Western & Southern reports $337 million in PRT business
Western & Southern offers pension risk transfer (PRT) services through its institutional markets business unit, which it established in September 2017.
Annuity Industry Sales Estimates
In 2017, total annuity sales decreased 8% to $203.5 billion compared with 2016, according to LIMRA Secure Retirement Institute’s Fourth Quarter 2017 U.S. Individual Annuity Sales Survey.
COVER STORIES YOU MAY HAVE MISSED
February 15, 2018
Spain Looks for New Ways to Save
Spain plans to reduce the fiscal burden of its national pension by dropping cost-of-living increases. Retirees will need to offset the loss of purchasing power with other savings. But the DC system here is...
February 8, 2018
How to Have Enough Money for Retirement
More than 10,000 economists converged last month on Philadelphia (where Ben Franklin's bronze likeness idles on a bench on the Penn campus) for the American Economic Association's annual meeting. Several papers on retirement strategy...
February 1, 2018
A ‘Blueprint’ to Sell Income Annuities Direct
Abaris Financial, founded in 2014 to market SPIAs, DIAs and QLACs online, has rebooted itself as Blueprint Income. It hopes to sell single-premium immediate and deferred annuities as well as multi-premium 'personal pensions.' ...
