UK's 'Pension Freedom Day' could herald confusion for months
The shock industry reforms come into effect on April 6; pension-holders need not buy a fixed-rate annuity
Mon, Mar 16, 2015 - 5:50 AM
The likely losers are firms whose life insurance business has traditionally relied on selling annuities, and the likely winners are those insurers and fund managers who are able to both manage pension fund assets and provide more flexible products.
WEEKS before Britons get free rein over how to spend their pension pots, industry players say it is unclear how many will choose to leave the safe harbour of an income-bearing annuity.
Some retirees are expected to ditch plans to buy those previously obligatory annuities...