SURREY, ENGLAND, April 15, 2013 (Press-News.org) Followers of English football will no doubt be aware that the transfer window for the Premier League closed at the end of January, with clubs now unable to transfer players in until the end of the season. But people might not be quite so aware that they themselves are free to shop around and use 'transfers' from multiple pension funds at any time, when buying their pension annuity.
Pension annuities have traditionally been a one-off purchase, which people buy to convert their pension fund savings into an income for life. However, with people changing jobs more often these days, more customers will have multiple pension fund savings 'pots' to buy an annuity with, as Tim Gosden, Head of Strategy for Individual Annuities at Legal & General explains.
"The recent removal of a maximum buying age for annuities in the UK has given people more flexibility to decide when to covert these pots into a retirement income. Many people are choosing to phase-in or defer their retirement these days, continuing to work full or part time beyond their original planned retirement age. Buying more than one annuity could actually suit them by releasing their tax-free lump sum entitlement and income at different times."
Many still prefer to buy just one annuity for simplicity and can choose to consolidate their income payments each year by purchasing an immediate vesting pension (IVP). An IVP is a pension fund arrangement that can receive transfers from one or more existing pension funds with the total proceeds used to immediately buy a pension annuity.
Tim added; "Some annuity providers also offer immediate retirement annuities, which can accept personal payments ('contributions') from outside of an individual's pension fund savings. The provider can then normally add tax relief to the contribution to provide a last minute 'top up' to the amount they have to buy their annuity with, helping to boost their retirement income."
Note to readers and editors
This article is intended for consumers.
Website: http://www.legalandgeneral.com/
The Pension Annuity 'Transfer Window' Remains Open, Says Legal & General
Annuity customers are free to transfer multiple pension 'pots' to consolidate retirement income.
2013-04-15
ELSE PRESS RELEASES FROM THIS DATE:
Laura Wellington: Yahoo & Style Studio "Makeover" Transforms Author Of "The Four-Star Diet" Into Bombshell (Video)
2013-04-15
There is no doubt that Yahoo's ability to spot "leadership and success" is a testament to its own dynamic "leadership and success". Take "THE FOUR-STAR DIET: Based Upon The Wisdom Of General Colin Powell & Other Ridiculously Brilliant Leaders" for example. The ink on this, now, "global sensation" was barely dry when Yahoo invited author, Laura J. Wellington, to take part in the makeover series "Style Studio with Rebecca Minkoff" hosted by Yahoo.
"True influence and change causes chatter. It's the mark of being ...
Drug-coated stents prevent leg amputation
2013-04-14
NEW ORLEANS (April 14, 2013)—Drug-eluting stents can keep clogged leg arteries open, preventing amputation of the leg, suggests research being presented at the Society of Interventional Radiology's 38th Annual Scientific Meeting in New Orleans.
"Peripheral arterial disease (or PAD) is becoming increasingly prevalent due to our aging population and the obesity and diabetes epidemics," said Robert A. Lookstein, M.D., FSIR, lead researcher and chief of interventional radiology at Mount Sinai Medical Center in New York, N.Y. "Many PAD patients are not candidates for surgery ...
Freezing nerves knocks pain out cold
2013-04-14
NEW ORLEANS (April 14, 2013)—Using a tiny ball of ice, a minimally invasive interventional radiology treatment called cryoneurolysis safely short circuits chronic pain caused by nerve damage, according to data being presented at the Society of Interventional Radiology's 38th Annual Scientific Meeting in New Orleans.
"Cryoneurolysis could have big implications for the millions of people who suffer from neuralgia, which can be unbearable and is very difficult to treat," said William Moore, M.D., medical director of radiology at Stony Brook University School of Medicine ...
Icy therapy spot treats cancer in the lung
2013-04-14
NEW ORLEANS (April 14, 2013)—Frozen balls of ice can safely kill cancerous tumors that have spread to the lungs, according to the first prospective multicenter trial of cryoablation. The results are being presented at the Society of Interventional Radiology's 38th Annual Scientific Meeting in New Orleans.
"Cryoablation has potential as a treatment for cancer that has spread to the lungs from other parts of the body and could prolong the lives of patients who are running out of options," said David A. Woodrum, M.D., Ph.D., an author of the study and interventional radiologist ...
Electrical pulse treatment pokes holes in hard-to-treat tumors
2013-04-14
NEW ORLEANS (April 14, 2013)—A new, minimally invasive treatment that tears microscopic holes in tumors without harming healthy tissue is a promising treatment for challenging cancers, suggests a preliminary study being presented at the Society of Interventional Radiology's 38th Annual Scientific Meeting in New Orleans.
"Irreversible electroporation (or IRE) is a new way to attack cancer, using microsecond electrical pulses to kill cancer at the cellular level without damaging healthy tissue nearby. It may be especially beneficial in treating liver, lung, pancreatic ...
Stenting blocked bowel arteries saves lives
2013-04-14
NEW ORLEANS (April 14, 2013)—Stenting reopens completely blocked bowel arteries, preventing damage and even death from a condition that causes individuals severe pain and leads to excessive weight loss, notes research being presented at the Society of Interventional Radiology's 38th Annual Scientific Meeting in New Orleans, La.
"Stenting blocked mesenteric arteries saves lives," said Daniel A. Leung, M.D., program director of vascular interventional radiology for the Christiana Care Health System based in Wilmington, Del. "Open surgery has traditionally been the primary ...
Choosing the appropriate structure for a business in Maryland
2013-04-14
Choosing the appropriate structure for a business in Maryland
Article provided by McNamee, Hosea, Jernigan, Kim, Greenan & Lynch, P.A.
Visit us at http://www.mhlawyers.com
Many people dream of starting and owning a business; but oftentimes, they do not know what type of business entity to choose. There are several types of business entities for hopeful business owners to choose from -- the key is to select the one that is most appropriate for all involved.
Weighing the pros and cons of each type of entity is a good idea for business owners because certain ...
U.S. Supreme Court issues two opinions on drug sniffing dog searches
2013-04-14
U.S. Supreme Court issues two opinions on drug sniffing dog searches
Article provided by Spring & Spring
Visit us at http://www.springandspring.com
The U.S. Supreme Court has issued a series of decisions recently regarding the legality of police searches which resulted from drug-detecting dog alerts and led to the arrest of a suspect.
Under the Fourth Amendment, U.S. citizens have a right to privacy and are free from unreasonable searches and seizures. Police therefore cannot search people or their homes without a warrant or a person's consent to search for ...
Understanding the difference between SSI and SSDI
2013-04-14
Understanding the difference between SSI and SSDI
Article provided by Smolich & Smolich
Visit us at http://www.smolichlaw.com/
Despite using caution, there is always the possibility of an accident. Individuals who are seriously injured or disabled by an accident may be unable to continue working and providing for their families. Because of this unfortunately reality, everyone should be aware of their ability to obtain Social Security benefits. Knowing about Social Security benefits and how to apply for them can help you plan for a more secure financial future.
Eligibility ...
The difference between probate and non-probate assets
2013-04-14
The difference between probate and non-probate assets
Article provided by Wright Abshire, Attorneys, A Professional Corporation
Visit us at http://www.wrightabshire.com/
When creating your estate plan, it is important to understand the plan's different components; specifically, the difference between probate and non-probate property. This is because a certain type of property -- non-probate property -- is not governed by your will at all and doesn't have to go through the probate process.
What is probate?
Probate is the court process through which the validity ...
LAST 30 PRESS RELEASES:
University of Oklahoma researcher awarded funding to pursue AI-powered material design
Exploring how the visual system recovers following injury
Support for parents with infants at pediatric check-ups leads to better reading and math skills in elementary school
Kids’ behavioral health is a growing share of family health costs
Day & night: Cancer disrupts the brain’s natural rhythm
COVID-19 vaccination significantly reduces risk to pregnant women and baby
The role of vaccination in maternal and perinatal outcomes associated with COVID-19 in pregnancy
Mayo Clinic smartwatch system helps parents shorten and defuse children's severe tantrums early
Behavioral health spending spikes to 40% of all children’s health expenditures, nearly doubling in a decade
Digital cognitive behavioral treatment for generalized anxiety disorder
Expenditures for pediatric behavioral health care over time and estimated family financial burden
Air conditioning in nursing homes and mortality during extreme heat
The Alps to lose a record number of glaciers in the next decade
What makes a good proton conductor?
New science reporting guide published for journalists in Bulgaria
New international study reveals major survival gaps among children with cancer
New science reporting guide published for journalists in Turkey
Scientists develop a smarter mRNA therapy that knows which cells to target
Neuroanatomy-informed brain–machine hybrid intelligence for robust acoustic target detection
Eight SwRI hydrogen projects funded by ENERGYWERX
The Lundquist Institute and its start-up company Vitalex Biosciences Announces Strategic Advancement of Second-Generation fungal Vaccine VXV-01 through Phase 1 Trials under $40 Million Competitive Con
Fine particles in pollution are associated with early signs of autoimmune disease
Review article | Towards a Global Ground-Based Earth Observatory (GGBEO): Leveraging existing systems and networks
Penn and UMich create world’s smallest programmable, autonomous robots
Cleveland researchers launch first major study to address ‘hidden performance killer’ in athletes
To connect across politics, try saying what you oppose
Modulating key interaction prevents virus from entering cells
Project explores barriers to NHS career progression facing international medical graduates
Jeonbuk National University researchers explore the impact of different seasonings on the flavor perception of Doenjang soup
Two Keck Medicine of USC Hospitals named Leapfrog Top Teaching Hospitals
[Press-News.org] The Pension Annuity 'Transfer Window' Remains Open, Says Legal & GeneralAnnuity customers are free to transfer multiple pension 'pots' to consolidate retirement income.