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Aifa backs Tory call for temporary end to forced-annuitisation

The Association of Independent Financial Advisers has backed the Conservative’s proposal to end forced annuitisation at 75 during the current tubulence.

Conservative Shadow Secretary of State for Work and Pensions Chris Grayling wrote to the Government with this suggestion in a bid to protect pensioners’ long-term income from being badly hit by the current state of the market.

Aifa policy director Andrew Strange says: “Aifa agrees with today’s calls by the Conservative Party to end forced annuitisation at 75.

“Given current market conditions we do not believe people should be forced to make once in a lifetime decisions which could result in them being significantly worse off in retirement than they would otherwise. 

“This is evidence of the failings of compulsory annuitisation rules within the current pension system, and therefore going forward we would like to see them reviewed.”


Home to roost

The deaths of most mortgage products have been heralded over the last few weeks as deals are withdrawn and more lenders leave the table. Last week, Moneyfacts revealed there are only 3,469 products left in the UK, down from more than 13,000 in August 2007. But are all the mortgage sectors still breathing and what can we expect in the future? Money Marketing asked advisers and mortgage providers for their thoughts on the current state of mortgage products.

DC pensions funds prove worth

Well designed default funds can help against the problems that politicians are seeking to address by reviewing rules on compulsory annuitisation.

How QE is distorting the gilt market

By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]


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