LONDON (Reuters) - Sales of UK annuities fell last year, consultancy Towers Watson said on Friday, though the drop-off was not as sharp as forecast by some analysts following pension reform.
The government last year surprised the pensions industry with plans to allow pensioners to spend their pension savings as they choose, rather than having to buy an annuity, which gives an income for life.
UK variable annuity sales fell 22 percent to 867 million pounds ($1.33 billion) in 2014 and enhanced annuity sales - for people with a reduced life expectancy - dropped 44 percent to 2.17 billion pounds, Towers Watson said in a statement.
Some analysts had forecast a fall in sales of 80-90 percent. Standard Life said on Friday that its margin from annuity new business sales fell 66 percent last year.($1 = 0.6506 British Pounds)
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔