Annuity Base

Open Market Option Comparisons for Pension Income

annuities
Share |

The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising

Aegon Annuities Aviva Annuities Axa Annuities Canada Life Annuities Friends Life Annuities Hodge Annuities Just Retirement Annuities Legal and General Annuities LV Annuities
MGM Annuities Novia Annuities Old Mutual Annuities Partnership Annuities Phoenix Annuities Pru Annuities Royal London Annuities Scottish Widows Annuities Zurich Annuities annuities

We value your privacy: The same as almost all sites, we use computer files called cookies that measure how many people use the site. They can't be used to identify you personally. If you continue without changing your settings, we'll assume that you are happy to receive cookies. We don't share your information with 3rd parties.

Looking for an alternative to an annuity? Visit Annuity Answers.

Archived Annuities News / Income Drawdown News

What's happening in the world of pensions

News and articles about annuities, pensions and income drawdown

PLEASE BOOKMARK NOW

By following any news links you will be leaving the Annuity Base site and we are not responsible for the accuracy of the information contained in any other site or the regulatory status of any other firm within the linked sites accessible from this site.

Please visit our main annuities news page for more news.

New EU gender rules could mean better pension prospects for women

Women who keep their pensions invested could receive an additional £400 a year after HM Revenue and Customs (HMRC) confirmed that the new EU gender rules will apply to capped pension income withdrawals.

This means that women who keep their funds invested via Income Drawdown (also known as an unsecured pension), which according to the Pensions Advisory Service ‘allows you to take income from your pension fund while the fund remains invested and continues to benefit from any fund growth’, will have their maximum income withdrawal limit increased by around 8%, or £400 a year.

Currently maximum capped income rates are calculated according to two different tables, one for men and one for women. However, from 21 December 2012 the rates used to calculate the maximum amount of income a woman can draw from her pension on an annual basis in drawdown will be based on male life expectancy rates.

HMRC has made this decision to withdraw the female table in line with an EU directive. This will mean that a 65 year old woman could see her drawdown income leap from £4,900 a year to £5,300 a year.

Adrian Walker, Skandia’s pension expert, said:

“The fact that HMRC has taken this step is an interesting move, and one which will significantly benefit women taking the capped income withdrawal route. Maximum income levels have been adversely impacted in recent months due to the record low gilt yield and volatile market conditions, so this will be a welcome relief for many women".

And added: “Women already taking a capped income can benefit from this rule change at their next review period.”


Please visit our main annuities news page for more news.

Make Contact Now

Take action now and uncover the differences

Receive a FREE Pension Annuities Comparison Quote

Please complete the free no-obligation enquiry form and see the surprising differences between one annuity and another. Remember your enquiry is free.

There is no charge for us investigating your policy and you are under no obligation to follow any recommendations that are made.

Your annuity specialist is registered with the Financial Conduct Authority (FCA).

We will:
1. Search the whole of the market for you so you are more able to make a decision
2. Check if you are eligible for an enhanced annuity that could increase your income
3. Give you access to more flexible options including fixed term annuities and income drawdown, should you wish

FULLY CONFIDENTIAL ANNUITY COMPARISON QUOTES WITH NO OBLIGATION

Your Age (You must be aged 55 or over)
Do you already have an annuity? (If so, sorry, we cannot help. Annuities cannot be cashed in at this time.)
Name
Preferred contact phone number
2nd number just in case (optional)
Email address (optional)
Annuities PRIVACY PROMISE: We will never share your data or spam you. Data Protection No. Z1760988
annuities