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...“You give up a lot of returns that you could have accrued for your clients,” said Elisabeth Kashner, director of global fund analytics at FactSet....
...If you don’t have any stipulations in place — some death benefits can be bought as “add-ons” to an annuity — your pension funds return to your provider upon your death....
...The advantages of annuities are certainty, simplicity and security — the value of having a known income for life....
...The Bank of England has also warned groups to more tightly manage the reinsurance deals they are doing to increase their capacity for bulk annuity transactions....
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...The recommendation for the church to target £1bn for its new “impact investment fund”, through third-party and additional church funding, was one of a series of recommendations made in the group’s report...
...funds’ credit exposure....
...And one thing to start: Tiger Global has raised $2.2bn for its latest venture capital fund, roughly a third of the $6bn target it touted to investors when it first announced the fund in 2022....
...fund can switch some (or all) of it into an annuity....
...The company on Tuesday said it had completed two deals worth a total of £617mn, the first new annuity business it has written since 2016....
...He said consumers were now more attuned to rate differences, but products would need to evolve to meet the needs of savers retiring without a defined benefit pot....
...customer’s objectives, and a loss of safeguarded benefits or valued features....
...It pairs a “target date” fund, which lets workers pick when they want to retire and automatically invests their contributions in a changing combination of stocks and bonds, with an optional annuity that...
...Before then, they mostly had to buy annuities. Bond-heavy annuity funds hedged that liability as retirement approached....
...Portfolios of private assets are being dumped by so-called defined benefit pension schemes — funds offering members a set amount in retirement — as they try to prepare themselves for a buyout by an insurance...
...and bulk annuity sales....
...Increased competition from such a well-known name should help drive higher incomes for retirees and benefit the annuity market as a whole,” Morrissey said....
...L&G said on Wednesday that it had taken in £575mn of new business premiums in individual annuities so far this year, up 27 per cent on last year....
...When the scheme transferred to PIC, Shaw became one of more than a million UK savers whose pension benefits are now the responsibility of a life insurance company, rather than a traditional pension fund...
...That makes a buyout a more realistic option for hundreds of pension funds....
...to the “archaic” annuities market....
...to fund this level of withdrawals....
...The once moribund annuity market has perked up on the back of vastly improved offered rates. Bulk annuity transfer deals have also boomed....
...For the limited universe of targets, this is the moment to cash in. The Blue Owl deal is a little trickier than meets the eye. Apart from the investment manager, Kuvare also sells annuities....
...Big annuity sales require regulatory capital transfers, which for L&G should be under 4 per cent of the annuity premium. Moreover, capital is tied up for a long time....
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