Retirees with a guaranteed income reported higher levels of satisfaction and faced fewer affordability challenges, a study from Legal & General and the Happiness Research Institute has found.
The research, which explored the lives and finances of 3,000 UK retirees, examined the connection between financial security and wellbeing in retirement and the link between annuities and happiness.
This revealed that retirees with an annuity scored more positively across multiple well-being measures than those without. They also reported greater satisfaction with their current lives, relationships, free time, and social activities.In particular, annuity holders were more likely to report lower levels of stress […]
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