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Support for forced annuitisation halves

Public acceptance of forced annuitisation has almost halved in the last seven years, according to Skandia.

The firm’s annuities survey found that 30 per cent of people thought forced annuitisation was acceptable compared with 57 per cent in 2001. Seventy per cent of the 1,000 consumers surveyed thought it was unacceptable to be compelled to buy an annuity.

Skandia has designed an income drawdown simulator tool which helps advisers to construct drawdown portfolios, select withdrawals and track fund values for clients.

Head of pensions marketing Nick Bladen says: “The concept of forced annuitisation is clearly still unacceptable to a significant group of people so advisers have a crucial role to play in opening up other options to their clients.”


F&C in the black

F&C announced its first pre-tax profit yesterday, recording a £7.9m return for the first six months of 2007.

GBST Holdings buys InfoComp

Global Banking and Securities Transactions Holdings has bought Australian technology firm InfoComp for £23.6m.The two companies will combine and the acquisition by the Australian Stock Exchange listed company will be funded out of cash from reserves and a AUS£8.4m debt facility.GBST is the largest provider of securities transaction processing in Australia, supplying its financial services […]


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