If you don’t feel all that confident about annuities, you’re not alone.
Once the default choice of guaranteed income in retirement for generations of UK pension savers, for a whole bunch of reasons, annuities had been falling out of favour for year and years.
Why annuities matter again
Higher interest rates and inflation have led to a revival of interest in securing certainty of income in retirement.
The trouble is that an emerging generation of paraplanners – and a sizeable chunk of the more established paraplanning population – had barely any recent experience of annuities.
So we invited Andy Powell from Standard Life to join us to explain:
- How annuities work
- What drives annuity rates
- The practical differences between pension annuities and purchased life annuities
- Why different providers offer different rates for similar circumstances
Tailoring annuities to client needs
During this Assembly, Andy explores the different ways annuities can be designed to meet different requirements. For instance:
- Rising payments: increasing the amount clients receive each year in retirement
- Safety nets: making sure payments continue for at least 5 or 10 years, even if you die
- Family protection: keeping payments going for your partner or someone else after you die
- Money-back features
Andy also covers newer developments like fixed-term annuities and platform-based solutions that let clients combine secure income with investment flexibility without splitting pension assets across different providers.
For paraplanners, perhaps one of the most valuable takeaways is understanding enhanced terms where, in contrast to other insurance products, health conditions actually increase and not decrease income.
This practical session will give you paraplanners useful knowledge to help clients weigh up their retirement income options. So why not watch or listen now?
