Annuity rates are at their lowest point in the product’s history, with income payable falling by over 10% since the beginning of the year, research from Moneyfacts.co.uk reveals.
Analysis of data on the average annual pension annuity income shows that while it has been declining throughout 2019 there has been a rapid fall since August 2019 on the back of a sharp fall in gilt yields. This latest drop in annuity rates means that average annual annuity pension income is now 1.2% lower than its previous all-time low back in September 2016 for a £10,000 purchase price.
Moneyfacts.co.uk has looked at […]
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