“Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, any time they want,” said the UK Chancellor of the Exchequer, George Osborne (pictured with his new budget), in his annual Budget speech to Parliament.
Originally a platform for distributing structured notes to broker-dealers, SIMON is adding index-linked annuities to its product suite. Prudential is both an investor and, as of today, a product provider.
Most of the annuities now on the Charles Schwab and TD Ameritrade platforms are offered by mutual or foreign-owned life insurers. Lincoln Financial is the sole exception.
In MassMutual's new all-digital deferred income annuity, an adult child is the owner, and receives income when a parent (the annuitant) reaches age 91.
Our guest columnist, who spends part of each year in Britain, offers this exclusive analysis of the implications of the announcements about retirement regulation and annuities by Britain's top treasury official yesterday.
December 2013 was the first month of negative net flow into annuities since Analytic Reporting of Annuities, an online service of DTCC’s National Securities Clearing Corporation (NSCC), began collecting broker-dealer annuity transaction data in 2011.
This week's appeals court decision in the class action suit against Fidelity and one of its 401(k) recordkeeping clients was a "mixed bag for plan sponsors, participants and service providers," wrote ERISA blogger Thomas Clark.
“To the extent that pre-retirees lack confidence about retirement, providers can offer a voice of assurance or reason," said Linda York, the president of syndicated research at Market Strategies International.