Annuity  

Guide to income in retirement and annuities

  • Explain why annuities are popular again
  • Understand how a blended approach works
  • Explain the multi-layered approach to retirement income advice
CPD
Approx.60min
Guide to income in retirement and annuities
(FT Money)

Introduction

In the past 12 months the interest rate on gilts has been rising, resulting in higher annuity rates.

This, in part, was driven by the increased concern surrounding the UK’s ability to repay its debts and ensure the recovery of the economy following the "mini" Budget.

Given the big increase in annuity rates, an annuity as part of retirement strategy alongside drawdown is looking increasingly attractive. 

But with the nature of advice becoming increasingly holistic, advising on retirement income strategies requires a multi-layered approach.

The way in which to go about doing this will be explored in this report, worth 60 minutes of CPD.

In this guide

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Whose actions are likely to determine the direction of annuity rates?

  2. According to Mark Ormston, what are the benefits of partial annuitisation?

  3. According to Claire Trott, why can vulnerability instigate a move from drawdown to an annuity?

  4. According to Stephen Lowe, how does a guaranteed income for life help estate planning?

  5. What does Vince Smith-Hughes say could be a good way to demonstrate and evidence client understanding of the risks of any given approach?

  6. According to Andrew Tully, what approach can help clients build up a picture of their retirement over the medium term rather than just focusing on the here and now?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Explain why annuities are popular again
  • Understand how a blended approach works
  • Explain the multi-layered approach to retirement income advice

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