UK Annuities: FINANCIAL CONDUCT REGULATED SITES • QUALIFIED, TRUSTWORTHY ANNUITY ADVICE

Centralising Your Pension Annuity Search

BUT FIRST, SOME IMPORTANT INFORMATION THAT COULD BOOST YOUR RETIREMENT FINANCES Have you taken out a credit or store card, mortgage, secured loan, unsecured loan or hire purchase agreement in the last 10 years? If you have (or have had) a mortgage, loan or credit card with providers such as Barclaycard, Abbey, Santander, Littlewoods, MBNA, Halifax, HSBC, HBOS, Lloyds, Natwest, RBS or in fact any other credit provider, you may be able to reclaim up to £15,000 if you were sold PPI insurance - in most cases even if you have lost the paperwork. Learn more about PPI Claims now!


annuity comparisons Visit Open Annuities

You could increase your annuity by thousands. Make sure you recognise the best annuity advice when you get it. The more information about annuities you have, the more able you will be to recognise the best annuity advice when you receive it.
Visit Open Annuities Financial Services Register Number 530750


Annuity Plan Visit Pension Annuity Plan

You may be able to secure several thousand pounds more over your lifetime from annuity providers than your current pension provider. Many are unaware of this very important information. The more information you have, the more able you will be to recognise the best deal when you see it.
Visit Pension Annuity Plan Financial Services Register Number 530750


annuities plan Visit Annuities Plan

All fund sizes welcomed. Why should the annuity buyer be careful? Buying from your pension provider isn't always necessarily the best idea.
Visit Annuities Plan Financial Services Register Number 530750


annuity comparisons Visit Pension Annuity Planner

This company may be able to increase your standard pension annuity through enhanced annuities.
Visit Pension Annuity Planner Financial Services Register Number 530750


annuity comparisons Visit Annuity Base

Using specialist annuity industry search software, an FCA registered Independent Financial Adviser will query top annuity and annuity alternative providers' databases to help you compare and choose which one is the best for you.
Visit Annuity Base Financial Services Register Number 530750


annuity comparisons Visit The Enhanced Annuity

Specialists in enhanced annuities. It is estimated that up to 40% of the UK population could boost their pension annuity income with an "enhanced annuity".
Visit The Enhanced Annuity Financial Services Register Number 483817


annuity comparisons Visit Annuity Comparisons

Why would you use an automated annuity comparison website when an authorised, qualified pension consultant can advise you which is the best annuity for free with no obligation to buy? There are many reasons why you should not trust your future income to comparison tables on faceless sites. In some matters you need absolute certainty.
Visit Annuity Comparisons Financial Services Register Number 483817


annuity comparisons Visit Annuities Extra

Pension annuities for those of us who are not in the best of health. If you've a health problem, no matter how small or insignificant you think it is, you'll stand an increased chance of a higher annuity income.
Visit Annuities Extra Financial Services Register Number 483817


annuity comparisons Visit Simple Annuities

Finding an annuity does not have to be difficult. Pension annuity retirement finance experts with vast experience of annuities are waiting to help you. Compare pension annuities and annuity alternatives now.
Visit Simple Annuities Financial Services Register Number 483817


annuity comparisons Visit The Female Annuity

1000's of women retire every week in the UK. Compare annuities for women and their alternatives.
Visit The Female Annuity Financial Services Register Number 460094


annuity comparisons Visit Annuity Pathway

Your simple pension annuity journey. How you might take the wrong annuity route and lose the annuity income that is rightfully yours.
Visit Annuity Pathway Financial Services Register Number 460094


annuity comparisons Visit Just One Bite Annuities

How a pension annuity will affect your life. You will only get one bite of the annuity apple. Once you buy an annuity, there's no going back.
Visit Just One Bite Annuities Financial Services Register Number 460094


annuity comparisons Visit Pension Annuities Plus

Your annuity income may increase if you have had certain conditions such as high blood pressure, asthma or high cholesterol. This is also true for smokers and for those who have worked in certain occupations. Get pension annuity comparisons now.
Visit Pension Annuities Plus Financial Services Register Number 483817


annuity comparisons Visit Annuity Answers

Why should the pension annuity buyer beware and why do so many retirees ignore a much bigger annuity income? Compare annuities now.
Visit Annuity Answers Financial Services Register Number 483817


annuity comparisons Visit Smokers Annuities

Your lifespan as a smoker and your annuity options. We're sorry to be blunt, but you most likely already know that smokers, in general, have shorter lifespans than non-smokers. Of course annuity providers are well aware of this unfortunate fact of life. Increase your annuity now.
Visit Smokers Annuities Financial Services Register Number 483817


annuity comparisons Visit Annuity Key

Unlike some companies, all fund sizes are accepted. The Retirement Income Customer Hotline Limited may be able to boost your pension income by more than 40% compared with your current pension provider's offering.
Visit Annuity Key Financial Services Register Number 460094


annuity comparisons Visit Buy an Annuity

Buying an annuity from your pension provider isn't always necessarily the best option! You might be able to secure several thousand pounds more over your retirement from annuity providers than your current pension provider.
Visit Buy an Annuity Financial Services Register Number 154622


annuity office Visit Annuity Office

We recognise our annuity clients as individuals, which is why we deal with every case on a one-to-one individual basis. Did you know for instance that your income may increase if you have had certain health problems such as high blood pressure, high cholesterol or asthma? This is also true for smokers and for those who have worked in certain occupations.
Visit Annuity Office Financial Services Register Number 483817


ANNUITIES: FSA Annuities News


Pensions and Annuities Research: FSA:

Select Committee on Treasury Appendices to the Minutes of Evidence

APPENDIX 22

Annuities Memorandum by the Financial Services Authority (FSA)

INTRODUCTION 1. This memorandum is submitted to the Treasury Sub-Committee in the context of its inquiry into the Government's cash and debt management. The Sub-Committee asked the FSA to comment in particular on recent trends in the annuities market. 2. Only companies authorised under the Insurance Companies Act 1982 are permitted to issue annuities. That Act gives supervision and other powers to the Treasury, the exercise of which (with certain exceptions) they contracted out to the FSA, with effect from January 1999. When the Financial Services and Markets Bill, currently before Parliament, is implemented, the FSA will assume responsibility, as the single statutory financial regulator in the UK, for regulating insurance companies. 3. This Memorandum comments on recent trends in the annuities market from three points of view, reflecting the FSA's particular responsibilities: (i) The prudential regulation of insurance companies that write pension annuity business. (ii) Advice to consumers at the point when they buy an annuity. (iii) Consumer understanding and education issues. 4. Corporate pension funds are regulated by the Occupational Pensions Regulatory Authority. The trustees of such funds may purchase annuities or may make pension payments from the fund. PRUDENTIAL REGULATION 5. The FSA's prudential regulation of insurance companies is designed to ensure that they can meet contractual obligations and policyholders' reasonable expectations. We require companies to be managed in a sound and prudent manner, to have adequate capital to cover the risks of their business, and to maintain effective risk management procedures. The FSA applies these general principles to all aspects of companies' business, including annuities. Fixed income annuities 6. In the current market, the great majority of purchasers of annuities choose a product to provide a fixed income stream for the pensioner. Some annuities cover the survival of joint lives of a pensioner and his/her spouse. In issuing an annuity, the insurance company takes on a liability to pay a fixed amount for an uncertain period. 7. The company reduces the aggregate risk of the liabilities it is taking on (which arise because it cannot know for how long pensioners will live and consequently how long the contracts will run for) by spreading the risk across a number of contracts. In pricing its contracts it makes assumptions about future mortality, based on its own and wider industry experience, allowing for increasing life expectancy. 8. The returns which insurance companies make to FSA enable us to check that these mortality assumptions are prudent. 9. In addition to the longevity risk, an insurance company takes on an investment risk—the risk that assets which it has bought to fund future annuity payments don't earn sufficient interest or don't increase in value sufficiently to fund the liability. It is usual practice for the company to reduce this risk by matching the income and proceeds from its investments to the payments due on annuities. Such matching cannot, in the nature of things, be perfect. In addition, even if longevity could be accurately predicted, some mismatching would remain because of the unavailability of assets with the appropriate maturity. 10. By matching fixed annuity payments with fixed interest bonds, the investment risk to the insurer is reduced. The lowest risk investments are fixed coupon gilts. Corporate bonds can also provide a match but carry an increased risk of default (of interest payment or final redemption). 11. The FSA does not require insurance companies to match future annuity payments with income streams or to hold a set amount of gilts against future liabilities. Companies can and do select investment strategies to fund annuities which are more uncertain than purchasing fixed coupon bonds. For example, some companies use the strong capital position of their with-profits fund to support the investment of annuity monies in equity investments. Because the return from such investment strategies is less certain, firms will, for their own risk management purposes, set aside more capital, to support the annuity business in case their investments under-perform. This ensures that the annuity liabilities can still be met in the event that investment experience is adverse. This also has the advantage that it may allow the company to offer more competitive annuity rates than insurers with less strong capital backing. The FSA's prudential supervision encourages a sensible approach to risk management and seeks to ensure that less well managed or capitalised firms don't take on risks beyond their capabilities. 12. If a company takes on greater investment risks arising from a mismatch between future liabilities and income stream, the FSA requires a specific allocation of capital to support such investment strategies; in this way prudential supervision encourages and supports strong and effective risk management within firms. The Insurance Companies Regulations, together with guidance given by the Government Actuaries Department to the Appointed Actuaries, ensure that where strategies for funding annuities are more risky, more capital is set aside to support this risk. 13. The price of a fixed income annuity is related to the return on gilts. To the extent that the fall in the supply of gilts in recent years has reduced gilt yields, then annuity rates have been affected. The industry is responding to this situation by introducing a wider range of annuity products. The FSA is mindful of the need for increased consumer awareness and appropriate advice in these circumstances; further details of FSA's approach are given below. Index-linked annuities 14. The general principles outlined above equally to index-linked (RPI) annuities. These are a small but growing part of the market. Corporate index-linked stock is not widely available (because commercial organisations are less willing and able to take on inflation risk in their bonds) so that matching depends more on the availability of indexed-linked gilts. For funding such annuities, however, there are fewer alternatives to gilts. Firms providing RPI annuities can still invest in equities; as discussed above, they will need (both for prudential and risk management purposes) to set aside appropriate additional capital to support this. ADVICE FOR PURCHASERS OF ANNUITIES 15. Decisions on pension provision are among the most important which an individual will ever take. It is therefore especially important that those who seek advice in this area should be well served. Annuities are classified as investment business and their sale and marketing is subject to Conduct of Business Rules under the Financial Services Act 1986. Similar protection will be provided under the new legislation. 16. Recent trends in investment rates and consequently in annuity yields have caused concern. Prospective annuities have needed to find ways of optimising the income they obtain from their pension saving. This has increased the attractiveness of "drawdown" agreements, partly to maintain investment in equities but also in the hope of higher interest rates later. Pension fund withdrawal involves additional costs and extra investment risk compared with buying an annuity straight away—and requires specialist financial advice. As noted earlier, insurance companies have also responded with new products based on equity investments eg with profits annuities and equity linked annuities. This wider range of alternatives increases the need for advice at the time of purchase. If investors are attracted to such alternatives, they will bear an investment risk, as well as having the prospect of higher returns. 17. The conduct of Business Rules which cover the sale and marketing of annuities include such matters as: — Suitability. Those advising on the purchase of an investment such as an annuity are required to assess whether the product is suitable, in the light of the investor's personal and financial circumstances, attitude to risk etc. — Training and Competence. The FSA imposes requirements on authorised firms designed to ensure that advisers have appropriate knowledge and are appropriately trained and supervised. — Disclosure of key information to investors. The information to be provided to the investor depends on the type of annuity. In the case of fixed annuities, the disclosure (in the "Key Features" document) is relatively simple—the amount of the annuity and the fact that it cannot be surrendered. In the case of investment-linked and with-profit annuities, the information which must be provided is more comprehensive—investment risk must also be described and disclosed. Future amounts on annuity are currently disclosed on the basis of the rates of investment return prescribed by the Personal Investment Authority. In relation to drawdown agreements, the regulators have given guidance to firms designed to ensure that the nature and risks of the contract are highlighted to the investor and that the firms provides regular reviews. CONSUMER EDUCATION 18. The new legislation will give the FSA a specific statutory objective to promote public understanding of the financial system. Our aim is—both through our own initiatives and in partnership projects with others—to put consumers in a stronger position to make well-informed decisions. In this context we have published a number of explanatory Plain Language booklets for consumers. These are available through the FSA'a freephone leaflet, online from the FSA's website, through libraries and consumer advice agencies, and in many cases through regulated firms. 19. The most recent publication in this series is "The FSA guide to pension annuities and pension fund withdrawal".[10] This booklet is designed for people approaching retirement and aims to help them understand the decisions they will have to make about converting their accumulated pension fund into an income during their retirement. The booklet explains the different types of annuity available (level, increasing and investment-linked) as well as touching on phased retirement and pension fund withdrawal—as a possible alternative to buying an annuity until age 75. The key messages in the booklet are: — Buying an annuity is an important step and people have choices. These choices are important because they affect how well-off people are in retirement. — People should shop around for the best rate before making any irrevocable decisions about their pension fund; investors don't have to buy their annuity from the same insurance company they built up their fund with. — There are some key questions which people need to think about to help them choose a suitable annuity which meets their needs (and we highlight the main questions in the booklet). — Annuities are complicated, so investors should consider getting specialist advice—the booklet provides a list of useful contacts. CONCLUSION 20. The FSA will continue to regulate this evolving market sector under these three main headings—prudential supervision of insurance companies, regulation of those giving advice, and promoting consumer understanding. As part of its new regulatory approach, which it is beginning to implement in anticipation of the new legislation, the FSA is working on the broader theme of the implications for firms and consumers of a low-inflation environment. We expect the outcome of our work on this topic to have implications for, among other things, our future regulation of annuities business. 5 April 2000 © Parliamentary Copyright Keywords: Pension, Annuities, Annuity, Pensions, FSA Please note that the annuities and income drawdown information contained within the articles and general text on Annuities Central may not be intended for annuity consumer use, may no longer be current and should not be used by consumers to make financial decisions. It is very important that you don't use this annuity information in isolation to decide which annuity or annuity alternative to buy. Annuity comparisons and pensions information or opinions expressed are made as at the date of this publication and are subject to change without notice. Always seek the help of an annuity broker before you buy an annuity.

annuity comparisons Visit Open Annuities

You could increase your annuity by thousands. Make sure you recognise the best annuity advice when you get it. The more information about annuities you have, the more able you will be to recognise the best annuity advice when you receive it.
Visit Open Annuities Financial Services Register Number 530750


Annuity Plan Visit Pension Annuity Plan

You may be able to secure several thousand pounds more over your lifetime from annuity providers than your current pension provider. Many are unaware of this very important information. The more information you have, the more able you will be to recognise the best deal when you see it.
Visit Pension Annuity Plan Financial Services Register Number 530750


annuities plan Visit Annuities Plan

All fund sizes welcomed. Why should the annuity buyer be careful? Buying from your pension provider isn't always necessarily the best idea.
Visit Annuities Plan Financial Services Register Number 530750


annuity comparisons Visit Pension Annuity Planner

This company may be able to increase your standard pension annuity through enhanced annuities.
Visit Pension Annuity Planner Financial Services Register Number 530750


annuity comparisons Visit Annuity Base

Using specialist annuity industry search software, an FCA registered Independent Financial Adviser will query top annuity and annuity alternative providers' databases to help you compare and choose which one is the best for you.
Visit Annuity Base Financial Services Register Number 530750


annuity comparisons Visit The Enhanced Annuity

Specialists in enhanced annuities. It is estimated that up to 40% of the UK population could boost their pension annuity income with an "enhanced annuity".
Visit The Enhanced Annuity Financial Services Register Number 483817


annuity comparisons Visit Annuity Comparisons

Why would you use an automated annuity comparison website when an authorised, qualified pension consultant can advise you which is the best annuity for free with no obligation to buy? There are many reasons why you should not trust your future income to comparison tables on faceless sites. In some matters you need absolute certainty.
Visit Annuity Comparisons Financial Services Register Number 483817


annuity comparisons Visit Annuities Extra

Pension annuities for those of us who are not in the best of health. If you've a health problem, no matter how small or insignificant you think it is, you'll stand an increased chance of a higher annuity income.
Visit Annuities Extra Financial Services Register Number 483817


annuity comparisons Visit Simple Annuities

Finding an annuity does not have to be difficult. Pension annuity retirement finance experts with vast experience of annuities are waiting to help you. Compare pension annuities and annuity alternatives now.
Visit Simple Annuities Financial Services Register Number 483817


annuity comparisons Visit The Female Annuity

1000's of women retire every week in the UK. Compare annuities for women and their alternatives.
Visit The Female Annuity Financial Services Register Number 460094


annuity comparisons Visit Annuity Pathway

Your simple pension annuity journey. How you might take the wrong annuity route and lose the annuity income that is rightfully yours.
Visit Annuity Pathway Financial Services Register Number 460094


annuity comparisons Visit Just One Bite Annuities

How a pension annuity will affect your life. You will only get one bite of the annuity apple. Once you buy an annuity, there's no going back.
Visit Just One Bite Annuities Financial Services Register Number 460094


annuity comparisons Visit Pension Annuities Plus

Your annuity income may increase if you have had certain conditions such as high blood pressure, asthma or high cholesterol. This is also true for smokers and for those who have worked in certain occupations. Get pension annuity comparisons now.
Visit Pension Annuities Plus Financial Services Register Number 483817


annuity comparisons Visit Annuity Answers

Why should the pension annuity buyer beware and why do so many retirees ignore a much bigger annuity income? Compare annuities now.
Visit Annuity Answers Financial Services Register Number 483817


annuity comparisons Visit Smokers Annuities

Your lifespan as a smoker and your annuity options. We're sorry to be blunt, but you most likely already know that smokers, in general, have shorter lifespans than non-smokers. Of course annuity providers are well aware of this unfortunate fact of life. Increase your annuity now.
Visit Smokers Annuities Financial Services Register Number 483817


annuity comparisons Visit Annuity Key

Unlike some companies, all fund sizes are accepted. The Retirement Income Customer Hotline Limited may be able to boost your pension income by more than 40% compared with your current pension provider's offering.
Visit Annuity Key Financial Services Register Number 460094


annuity comparisons Visit Buy an Annuity

Buying an annuity from your pension provider isn't always necessarily the best option! You might be able to secure several thousand pounds more over your retirement from annuity providers than your current pension provider.
Visit Buy an Annuity Financial Services Register Number 154622


annuity office Visit Annuity Office

We recognise our annuity clients as individuals, which is why we deal with every case on a one-to-one individual basis. Did you know for instance that your income may increase if you have had certain health problems such as high blood pressure, high cholesterol or asthma? This is also true for smokers and for those who have worked in certain occupations.
Visit Annuity Office Financial Services Register Number 483817