The big three: Factors to consider when putting off an annuity purchase

The big three factors to consider when putting off an annuity purchase

clock • 4 min read

MGM Advantage's Andrew Tully talks advisers through the ‘known unknowns' when postponing buying an annuity for clients...

The Chancellor's 2014 Budget delighted many by giving people the ultimate flexibility in when and how to take their pension savings. Given these changes deciding whether to convert a pension fund into an income now is a tricky decision. Many people may choose to defer taking pension benefits until April 2015. And that may be a sensible decision - for example, for those who want to take their funds wholly as a lump sum, or those who wish to take advantage of new flexibility and the increased choices available. However, for the many people who still want to use their pension fund to pro...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Why documentation is king in the world of SSAS

Why documentation is king in the world of SSAS

'SSAS documentation - it isn't just best practice or a fiduciary requirement'

Caitlin Southall
clock 04 July 2025 • 4 min read
Steve Webb: Sceptical advisers should not give up on pensions dashboard

Steve Webb: Sceptical advisers should not give up on pensions dashboard

‘A big mistake to underestimate the impact it will have’

Jenna Brown
clock 03 July 2025 • 3 min read
What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read