Annuities used to be the norm when it came to funding your retirement. Before the introduction of Pension Freedoms in 2015, around 90% of people without a company final salary scheme had no choice but to use their pension pot to buy an annuity when they reached retirement.
But under the new regime, pension savers can opt for other routes and annuities have become increasingly unpopular. This is in part because ultra-low interest rates means you need a sizeable pension pot to buy an annuity that’s going to deliver a decent income.
So, are annuities ever the right choice? What is […]
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