Tag: guaranteed income

By Damian Fantato A quarter of people who have accessed a defined contribution pension in the past two years do not know how they did so, according to a survey by the Financial Conduct Authority.

The Financial Lives survey, which was based on research involving 13,000 people, assessed the attitudes people have towards the financial services sector.

The research examined behaviour and attitudes towards pensions accumulation and decumulation.It found three in 10 people had bought an annuity in the past two years while one in five had bought into some sort of income drawdown arrangement. One in six took their whole […]

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Many consumers are not well-informed on decisions they make about their income in retirement and are baffled by many aspects of the process, according to a report by the Financial Conduct Authority (FCA).

The report Understanding the financial lives of UK adults pointed to some alarming data on how uninformed and baffling many consumers find pensions.

It found 3% of all UK adults did not know if they had a private pension provision or not, and of those aged over 50 without a pension, 10% had never considered why they did not have one.The report also found some six million people, […]

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(Credit: AFP / Getty Images)

Councilman Ydanis Rodriguez proposed a bill that would allow taxi medallions to cover not one but two vehicles. The number of taxis on city streets could double under a new City Council bill introduced Tuesday that attempts to level the playing field between warring cab and e-hail industries.

The bill would allow taxi medallion owners to add a second vehicle under one medallion. Manhattan Councilman Ydanis Rodriguez, the bill’s sponsor, said this would provide an additional stream of revenue for the medallion owner, making the medallion itself a more attractive investment.If e-hail companies like […]

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The acceptance and use of annuities—and the tremendous appetite for the guaranteed income that they offer—are more widely accepted than many retirement plan advisers and investors realize, Jackson National Life found in a study conducted for the Insured Retirement Institute (IRI), “The Language of Retirement 2017: Advisor and Consumer Attitudes Toward Income in Retirement.”

According to the study, based on a survey of 400 advisers and 1,300 investors—300 of whom own an annuity and/or work with an adviser—35% of consumers are familiar with annuities and believe they are useful, and another 37% are open to learning more about them—a combined […]

Full Post at www.planadviser.com

Spencer Early was one of the business owners participating in a protest against proposed tax changes on Sept. 21, 2017. (Chris Vandenbreekel/650 CKOM) While the federal government has moved to lower taxes on small businesses, some owners remain skeptical on what lies ahead.

Spencer Early owns Early’s Farm and Garden Centre in Saskatoon and is a member of the North Saskatoon Business Association (NSBA). He said while the change is probably good news, he still has concerns.

“They’re basically throwing a carrot out to the business community to look good, but they already look so bad. There’s very little that they […]

Full Post at www.ckom.com

Conservative MP Larry Miller says Liberals have listened to outcry about their GIS plans. A Liberal government move to backtrack and reverse changes to the Guaranteed Income Supplement (GIS) comes as welcome news to the MP for Bruce-Grey-Owen Sound.

In Question Period last week, the Minister of Families, Children and Social Development Jean-Yves Duclos announced officials will be reverting to the guidelines prior to January 2017 for processing GIS payments for couples who have been involuntarily separated.

Bruce-Grey-Owen Sound Conservative MP Larry Miller led opposition pressure on the government to reverse course, after a constituent who works as an accountant for […]

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“Target-date funds [TDFs] may not be appropriate for everyone,” said Clint Barker, senior vice president, retirement investment solutions at PGIM Investments, the asset management group of Prudential, speaking at the “Improving Plan Design for Retiring Participants” panel at the 2017 PLANADVISER National Conference (PANC), Thursday. “Everyone is not the same.”

Helping people approaching retirement “is one of the key questions we spend our time on at Franklin Templeton,” said Tom Waters, senior institutional DC strategist, Franklin Templeton Investments. Helping people retire really means “working with people over age 50 who are thinking about retiring. This group is drastically different from […]

Full Post at www.planadviser.com