Nearly one million (990,000) pre-retirees aged over 55 are considering annuities for the first time in preparation for their retirement, research from Legal & General Retail has revealed.
The research detailed that 16 per cent (990,000) of people approaching retirement but still working were looking at the product due to improved rates against the background of rising living costs.
It found that s further 14 per cent (828,000) of working over-55s had always planned to purchase an annuity in retirement.Legal & General also detailed other reasons as to why savers might be drawn to annuities, such as the improvement in rates […]
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