The annuity market faces a ‘tipping point' as more ‘Middle Britain' savers could benefit from alternative retirement options, warns a new report.
In research sponsored by MGM Advantage and Prudential, retirement expert Billy Burrows argues retirees with pension pots of more than £50,000 should not default for low conventional annuity rates. Instead they should consider products such as investment linked annuities. Director at The Retirement Academy and Better Retirement Group Billy Burrows said: "This is especially true for Middle Britain, which stands to lose most from not fully considering the range of retirement options available to them. "Already squeezed by higher taxes, higher expenditure and lower interest rates, thos...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes