View more on these topics

Rockingham extends annuity clearing house

Rockingham Retirement is set to expand its annuity clearing house service to search whole of market for the best deal.

Last May, Money Marketing revealed the firm was launching the clearing house with Prudential, Legal & General and MGM Advantage in a bid to help people with small pension pots get a better annuity.

It is now rolling the service out to the open market, internally from April and to external advisers soon.

The service offers conventional and with-profits annuities as well as impaired and enhanced products. Advisers complete a medical form for their client on the ACH website or over the phone. The firm says the top annuity rates are instantly generated on an electronic application form, which is signed by the client. Advisers can white-label this process or hand the case over to the ACH.

The Retirement Adviser director of retirement planning Nick Flynn says: “It is positive it is being extended to whole of market but I still think advice is required. Execution-only offers clients only half the benefit of the open market option.”

Recommended

2

Sterling exchange

I should start by offering an apology to readers and praise to Money Marketing and one of its reporters. My apology is for not writing about Standard Life last month, after it was announced the company had been fined £2.45m for failings in the marketing of its pension sterling fund. I had meant to do […]

Burrows in retirement options’ deal with IT firm

IT provider DST Global Solutions is offering a compar-ison tool for retirement opt ions, which it developed with William Burrows Annuities director Billy Burrows. The product, called retirement options, helps advisers and clients identify suitable products in the at-retirement market. It compares the product features of different retirement options, including inc ome drawdown, guaranteed annuities, […]

Qatar cover image - thumbnail

White paper — Qatar International Insights

Jelf Employee Benefits highlights new legislation, key requirements and policy considerations when structuring international private medical insurance (IPMI) for expatriate employees in Qatar. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Qatar.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. David Trenner - Intelligent Pensions 11th February 2010 at 3:35 pm

    Whilst not disagreeing with Nick Flynn that ideally clients should get advice on their options, my understanding is that this service is targetted at purchase prices below £50k.

    If you can only afford to pay for an execution only firm then ACH is an awful lot better than staying with the holding insurer and getting 15% less income.

Leave a comment