Analysis shows scale of ‘loyalty penalty’ for those failing to shop around for best deals. Retirees failing to shop around for the most competitive guaranteed income solution would lose out on more than 16% of extra income over their lifetimes by choosing the worst instead of the best- paying annuity, analysis by retirement specialist Just Group reveals. A 65-year-old in good health using £50,000 of pension to purchase a standard Guaranteed Income for Life (GIfL) solution could generate £3,378 a year income from the best deal compared to £2,900 from the worst. The difference is £478 a year, […]
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