PrARI, the retirement product allocation calculator that Cannex recently acquired with its purchase of the Qwema Group, shows advisers how to maximize retirement income (or legacy) using a blend of mutual funds, variable annuities and income annuities.
We summarize four recent papers: 'Portfolios for Long-Term Investors,' 'What is the Value of Annuities?,' 'Public Economics and Inequality: Uncovering Our Social Nature,' and 'Financial and Total Wealth Inequality with Low Interest Rates.'
How will variable annuity contract owners use their income benefits? That question is vital to annuity issuers and to fiduciary advisers with clients who own VAs. This Texas Dep't of Insurance actuary knows a product that can help them find out.
Bloomberg reported this week that Prudential is considering selling its retirement plan recordkeeping business. Prudential didn't confirm the report, but several industry insiders did. Low interest rates, high costs of IT makeovers, and sticky stable value fund guarantees are driving the move, RIJ was told.
The UK's retirement system is a work in progress. With private DB plans expected to vanish in 2016, the government is promoting Danish-style DB/DC hybrids (not US.-style DC) as their replacements. The reaction has been mixed.
In 2010, Voya Financial stopped actively writing new retail variable annuity products with substantial guarantee features and separated its closed block of VA business from its ongoing businesses, according to a release.
“Retirement is a significant lifestyle change and it may take many individuals extra time to come to a decision, especially if a spouse is still working," write the authors of a new research report from Cerulli Associates.