Worrying new figures released by Moneyfacts.co.uk have revealed that annuity rates have collapsed to record lows after declining for most of the year.
The analysis shows that average annual pension annuity income has declined throughout much of 2019, and has intensified 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 recorded back in September 2016, following the impact of the EU referendum result.
As table 1 shows, the average annual income payable on a single […]
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