Annuities could see a renaissance once interest rates rise and as defined benefit (DB) pension pots continue to shrink, Tom McPhail has said.
Speaking at a panel discussion at this year's Morningstar investment conference, the Hargreaves Lansdown head of retirement challenged the view that annuities may be completely out of the picture thanks to the success of pension freedom. Research from Royal London Asset Management found in March that advisers were split on the relevance of annuities in today's marketplace, with more than half (54%) poised to discount them from their pension planning. It followed a trend detected by the Financial Conduct Authority (FCA), which reported in February that advised sales of annuities had dr...
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