Pension Freedoms
Are annuities set for a comeback?
After falling out of fashion when the pension freedoms were rolled out in 2015
Fix retirement advice sector, industry and government told
Some 40% of flexible income withdrawals were at an ‘unsustainable annual rate of 8% and over’
Dearth of DB schemes to hurt retirees
As unsuitable transfers could mean up to £20bn in lost income over five years
Industry still facing ‘tsunami’ of pension freedom challenges
Record year as flexible payments hit £9.4bn in 2019
UK taxman refunded over £32m to pensioners in Q4 2019
After they were hit with emergency tax despite doing nothing wrong