Annuity rates not raised

While gilt yields have been on the rise, few providers have adjusted their corresponding annuity rates, according to the Annuity Bureau. In the past few months, gilt yields have moved from around 4.9% to 5.11% but only Legal & General and Britannia Retirement solutions have subsequently improved their rates. Ronnie Lymburn, director at the Annuity Bureau, said: 'It appears some groups are still worried about longevity so are leaving more fat in the products for themselves, to cover for longer life.' Impaired rates continue to be a popular option but Lymburn said the product needs to b...