Annuity rates have rebounded to beat the highs seen in December last year after faltering slightly during Q1 2008, according to Investment Life & Pensions Moneyfacts.
The comparison and information site's annuity market review, carried out in December 2007, revealed that despite plunging returns of up to 30% during the previous decade, average annuity rates had improved by 6% during 2007 taking rates to their highest level in five years. Annuity rates are currently ahead of this recent high and the number of rate changes during the past few weeks suggests providers are keen to pass improvements onto customers in a competitive market, Moneyfacts suggests. The average male annuity rate was £629 in May 2008 (for a gross annual annuity based on an annuit...
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