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All About Annuities

The Ultra-Wealthy Are Increasingly Considering Private Placement Variable …

The Ultra-Wealthy Are Increasingly Considering Private Placement Variable …News from Forbes:
Thinking longer-term, the affluent are looking for ways to invest while mitigating taxes on their investments. Hence, the growing appeal of private placement variable annuities.
Simply put: a private placement variable annuity enables wealthy investors to defer income taxes on the growth of their portfolios within the annuity structure. Generally, the portfolio is composed of customized investments, which might include [...] Continue Reading…

Budget 2015: UK government sets out plans for ‘secondary market’ allowing …

Budget 2015: UK government sets out plans for ‘secondary market’ allowing …News from Out-Law.com:
Pensioners planning to sell on the right to regular annuity payments to a third party could be required to seek independent financial advice before doing so, under plans put forward by the UK government.20 Mar 2015

A consultation paper published alongside this year’s Budget sets out further details of the government’s intention to establish a ‘secondary’ market [...] Continue Reading…

Longevity Annuities Arrive in 401(k) Plans

Longevity Annuities Arrive in 401(k) PlansNews from Investopedia:
The U.S. Department of the Treasury and Internal Revenue Service (IRS) recently approved the use of longevity annuities inside of target date funds in 401(k) plans and Individual Retirement Accounts (IRAs). They can be included in target date funds used as default investment alternatives, thus qualifying for the safe harbor protection for plan sponsors as outlined in the
… Read the full [...] Continue Reading…

Northwestern Mutual to pay $84 million to settle annuities lawsuit

Northwestern Mutual to pay $ 84 million to settle annuities lawsuitNews from Reuters:

By Jonathan Stempel
Mon Mar 16, 2015 3:46pm EDT

(Reuters) – Northwestern Mutual Life Insurance Co agreed to pay $ 84 million to settle a lawsuit claiming that it illegally reduced potential payouts on annuities it sold at least 30 years ago, cheating investors who used them as retirement investments.

The settlement disclosed on Friday in the [...] Continue Reading…

Osborne cuts punitive tax on annuities

Osborne cuts punitive tax on annuitiesNews from The Guardian:
Many pensioners are expected to make the most of the new freedoms announced in the budget to cash in their annuities. Photograph: Linda Nylind for the Guardian

The government is banking on a rush by Britain’s pensioners to cash in their existing annuities following new freedoms announced in the budget.
George Osborne confirmed that from April 2016 he will give 5 million pensioners [...] Continue Reading…

Northwestern Mutual Life to settle annuities suit for $84 million

Northwestern Mutual Life to settle annuities suit for $ 84 millionNews from Milwaukee Journal Sentinel:
Northwestern Mutual Life Insurance Co. has agreed to pay $ 84 million to settle a long-running class action lawsuit over changes the company made to annuities it sold before 1985.
About 4,000 current and 29,000 former owners of the product will be eligible to share in the settlement of a case that could have [...] Continue Reading…

UK’s Osborne to allow pensioners to cash in annuities: newspapers

UK’s Osborne to allow pensioners to cash in annuities: newspapersNews from Reuters:
British Chancellor of the Exchequer George Osborne delivers a speech on the UK economy to the Royal Economic Society at the Bank of England in London, January 14, 2015.
Credit: Reuters/Andy Rain
…………… continues on Reuters
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Do annuities fit in your retirement plan?

Do annuities fit in your retirement plan?News from MarketWatch:

Question: Many people are advised to buy a single premium immediate annuity (or SPIA) as one way to protect against the risk of living too long, against longevity? Why is that?
Answer: The chief reason is because the SPIA provides longevity insurance — no matter how long you live, the SPIA keeps paying. With regular investments, if you are taking withdrawals and [...] Continue Reading…

Securing retirement income with annuities

Securing retirement income with annuitiesNews from USA TODAY:Sterling Raskie, AdviceIQ 8:30 a.m. EDT March 8, 2015

Some financial advisers recommend the use of annuities to secure income in retirement.(Photo: Thinkstock)

36 CONNECT
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Income for life: Eight things you may not know about annuities

Income for life: Eight things you may not know about annuitiesNews from The Globe and Mail:
People are finally showing some curiosity about the annuity option for retirement planning. I’ve been writing about life annuities for years, but it was only with a column published here two weeks ago that readers began asking a lot of questions about how these generators of income-for-life work (read it online here). Here, some [...] Continue Reading…