Under pressure

With growing numbers of pensioners in the UK and increasing longevity, the downward squeeze on annuity rates will get worse in the longer term. As a result, those approaching retirement will have to carefully consider the annuity they buy and take an active approach to their retirement income planning.  Longevity will put increasing pressure on annuity providers to create innovative products that counter the mounting demographic and economic pressures on rates. Annuity rates have continued to fall over the last quarter. According to our latest Annuity Index1, that tracks the income paid ...