Fewer women than men have formal investment plans in place for retirement and are less likely to be putting money away, a new study finds.

Women appear to be significantly less prepared for retirement than men, with women with retirement plans holding on average about $41,000 less in retirement savings, according to the ING Retirement Research Institute.

“It is clear that many women – regardless of their age or life stage – must do more to save for their retirement,” said Maliz Beams, CEO of ING U.S. Retirement. “The combination of living longer and saving less can hamper a woman’s ability to reach her goals. Through thi

Read more…

With all the new, high-tech safety features touted by automakers, youd think we could stop worrying about traffic accidents.

But a new report from the Highway Loss Data Institute (HLDI) shows why we cant let down our guard.

Although new technology reduces the odds of crashing and getting hurt in an accident, it takes at least 30 years for a safety feature introduced on a luxury vehicle to trickle down to lower-cost vehicles on the road, institute researchers found.

Take air bags, for instance.

Read more…

Hundreds of thousands of people who retire could benefit from an average rise of 20% to their pension income after the launch of a code of conduct for annuity providers and a new annuity service to ensure pensioners are sold the right product.

The Association of British Insurers, the trade body for insurance companies, has developed a new code designed to ensure insurers provide clear information to help people get the best income possible from their pension pots.

The code requires insurers to redesign their information packs to highlight the importance of shopping around for an annuity – an insurance policy that converts a pension fund into retirement income.

When an insurer sells an annuity to one of its own pension customers, it must ask a series of questions to match the right type of policy to the customer’s needs. I

Read more…

Liberty Life Insurance Co., which has a significant presence in Wilmington, Del., changed its name to Athene Annuity & Life Assurance Co., effective Feb. 1.

The name change better aligns the company with its parent firm, Bermuda-based Athene Holding Ltd., which offers fixed annuities and reinsurance for the U.S. retirement savings market. Athene bought Liberty Life from Royal Bank of Canada in April 2011.

We purchased Liberty to provide a platform for the growth of our fixed annuity businesses in the United States, said James R. Belardi, CEO of Athene Holding. Renaming the company underscores its strategic importance to our operations and strengthens the Athene brand.

Read more…