20 February 2024
The high rate of interest may not be as alluring as it first appears but annuities can still be a useful tool.
Editor, TrustnetRetirees can get as much as 7.1% per year in income from an annuity at present, data from Hargreaves Lansdown shows, but experts have warned that locking up your pension into the product may not necessarily be the best option.Typically, those in retirement can sell part or all of their pension to get an annuity, which pays out a guaranteed income each year.Currently, a 65-year-old with a £100,000 pension can get up to £7,117 […]
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