The Association of British Insurers has formally launched a new code of conduct to make it easier for retirees to make the right choices when they use their pension pot to buy an annuity.
Almost one-third of the UK adult population are not currently saving for their future, suggesting a 'bleak future' for their ability to cope with future financial shocks, Scottish Widows said today.
Over 50% of pensioners are missing out on hundreds of pounds a year of state benefits they are entitled to, according to research published by Just Retirement Solutions yesterday.
UK sales of annuities which offer bigger pensions for retirees with serious medical conditions or unhealthy lifestyles exceeded £4bn for the first time last year, Towers Watson revealed yesterday.
Insurance claims resulting from flood and storm damage reached £1.19bn last year, the highest since 2007, the Association of British Insurers revealed today.
This weeks government announcement on social care costs should trigger a discussion on whether pension savings can be used to fund the cost of long-term care, according to the Institute and Faculty of Actuaries.
