An end to ballooning pension costs?
Article Abstract:
UK pension providers have begun to simplify charges. Virgin Financial Services and Eagle Star have both launched personal pension schemes which do not charge initial fees, nor do they charge bid-offer spreads relating to underlying investments. Monthly administration charges are 2 pounds sterling and annual charges are 1 pound. These charges may seem high if contribution levels are low, but they are cheap in comparison with many pension products which also tend to have complex charging structures and are often inflexible. Investment trust personal pensions may also offer an alternative to traditional pension policies.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Anger over annuity rules for older pensioners
Article Abstract:
United Kingdom annuity rates have dropped to very low levels, and this creates problems for people who have to purchase an annuity before a deadline. There is a case for raising the age limit after which an annuity has to be purchased, or abolishing the limit. The government may not want to abolish the limit since pension tax allowance are not intended to allow people to pass funds on to heirs. Income drawdown options are available but are only suitable for investors with pension funds that are very large.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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