19 June 2014
Stuart Dunbar, Argyle's Managing Director, is quoted in Herald Scotland on 14 June 2014.
The article urged those seeking a secure income in retirement, to not dismiss the idea of buying an annuity.
Since the Chancellor’s 2014 Budget announcement, allowing pensioners to take their entire pension pot as cash from April 2015, sales of annuities have plummeted.
Stuart, who sits on Argyle's Investment Committee and is Scottish spokesman for the Association of Professional Financial Advisers, commented:
"Annuities have received a bad press lately because of poor rates – a consequence of low gilt yields and the UK experiencing the lowest interest rates for 300 years."
He went onto conclude that annuities may still prove to be a useful pension vehicle in certain circumstances by saying:
"As market conditions begin to normalise, an annuity for people who are risk-averse might be a good idea. The Budget announcement made it even more imperative to seek professional advice.”