News

Last annuity provider to exit market

Tuesday 15th of October 2013

The current sole provider, Fidelity Life, is to stop offering annuities due to lack of demand and increasing regulatory pressure.

Chief executive Milton Jennings told the Future of Super conference in Auckland yesterday that the company had only given out 12 quotes over the past year – and the one annuity product sold was to a 95-year-old planning to try to outlive the company’s longevit...

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