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UK Investment Association Warns Policy Shifts Harm Retirement Planning
The UK investment management sector has warned that repeated shifts in savings, investment and pensions policy are making it harder for people to prepare for retirement and are holding back investment into the domestic economy. Survey findings published by the Investment Association show that 38% of respondents believe changes to pensions policy in the UK have made future planning more difficult, while 34% said they are concerned that pension tax advantages could be reduced after the Autumn Budget. A further 33% said they would increase pension saving if tax rules were expected to remain broadly steady during their working lives. The IA is asking the Chancellor to set out a long-term and stable structure for pension taxation, and has called for no further rise in capital gains tax, the preservation of the tax-free ISA brand, the scrapping of stamp duty on shares, and steps to reinforce UK capital markets. IA CEO John Owen said Britain's ageing society is becoming increasingly expensive and that the State Pension alone can no longer be expected to provide the retirement income future generations will need, so robust and trusted private pensions must fill the gap.
Muang Thai Life launches Muang Thai Flexi Retire Series, a highly flexible annuity product
Muang Thai Life Assurance Public Company Limited, or MTL, has launched a new annuity product under the name Muang Thai Flexi Retire Series, and is moving ahead with the full rollout of its Longevity Ecosystem. Chief Executive Officer Sara Lamsam said the company aims to expand its role from providing life and health protection to creating balance across three dimensions: Lifespan, Healthspan and Wealthspan. The new product lets customers choose to pay premiums in a single payment, over five years, or until age 55, 60 or 65; choose to begin receiving annuity income at age 55, 60, 65 or 70; and adjust their retirement plan later without paying additional premiums or undergoing new underwriting. Annuity income can be received annually or monthly, with an option for a first installment of 30% as a lump sum, and policyholders can use the tax deduction for up to 200,000 baht. The product also guarantees no health check. The series comprises Flexi Retire Pro 90/1, Flexi Retire Next 90/1, Flexi Retire 90/5, and Flexi Retire 9055, 9060 and 9065, with sales starting on 1 October 2026. On building the long-term ecosystem, the company has joined forces with 44 senior living and nursing home partners for elderly care and recuperating patients, covering the whole country. Annuity policyholders who use elderly residential facilities can instruct that their annuity payments be made directly to network service providers, and the company plans to extend this right to savings policyholders soon. Customers also receive special privileges in senior housing, chauffeur services with caregivers, and hospice care hospital services.
OCEAN LIFE launches Special Accident coverage for ages 50-75
Thai Samut Life Assurance, or OCEAN LIFE, has launched a special accident rider called Special Accident, targeting customers aged 50 to 75. Nusara Assakul Banyatpiyapoj, Chief Executive Officer and Managing Director, said the product addresses the needs of an ageing society in which people live longer. The policy is easy to apply for, requiring no health declaration or medical examination. It offers three coverage plans: 250,000 baht, 400,000 baht, and 600,000 baht, with premiums starting at just 1,930 baht per year for male and female policyholders aged 50 to 60 under the 250,000-baht plan. In terms of coverage, the policy covers medical expenses for any single injury up to a maximum of 30,000 baht, along with coverage of up to 600,000 baht for death, loss of organs, sight, hearing, or speech, or total permanent disability caused by an accident.
