Summary
Standard Life has been accused of trying to lure elderly savers into locking away spare cash in annuities offering inferior returns. With interest rates at a low ebb, the insurer has suggested that investors with spare cash can boost their returns to as high as 16% - depending on age - if they put their money into an immediate vesting personal pension.
But savers may not be aware that part of the 'income' generated is actually a repayment of capital.See the full content of this document
Extract
Standard Life Criticised Over Annuity Policy
Standard Life's scheme makes use of tax concessions designed to encourage long term investment in pensions, but in this case the benefits are accessed instantly. It exploits the fact that everyone under t...
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