Annuities: Is the grass greener?

It's no surprise that the individual annuity market has fallen in popularity given the recent Budget changes which revolutionised how people take their pensions. But how rapidly have annuities fallen from favour? Looking through the flurry of recently released half year results for 2014, sales have been widely affected among life companies. Prudential posted a 43% drop in individual annuity sales to £63m, according to the insurer's half year results for 2014. However, Prudential did make some gains from switching a greater focus to income drawdown and to bulk annuities. In the UK l...