Annuities have been a bedrock of retirement planning for decades.
They’re still the only way to turn your pension into a secure guaranteed income for life. How much income you’ll receive largely depends on the annuity rates offered at the time.
Two years ago, annuity rates hit rock bottom after the Bank of England base rate was cut to 0.25%.Thankfully, if you’re buying an annuity today you’re likely to benefit from much higher rates. In fact, rates are up nearly 20%. And with the Bank of England moving the base rate up in August, it’s likely rates will continue to improve, […]
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