Annuity rates have fallen by over £1,000 in the last decade

Workers nearing retirement and looking for the income security provided by an annuity will be disappointed by our research which found that average annual annuity income has fallen by over £1,000 over the last decade.

“Those looking for a guaranteed income during their retirement may be considering an annuity, but over the years this market has contracted significantly and there are only a few providers left in the open market annuity area,” explains Rachel Springall, finance expert at “As it stands, an annuity for a single life male aged 65 who has a £50,000 lump sum and takes out […]

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