Smokers annuity rates rose in October after months of inactivity but RPI linked and level products were cut, according to Alexander Forbes Annuity Bureau.
In the RPI-linked annuities market, Aviva was the only insurer to increase its rates, adding £40 per year to its annuity for a 60-year-old male with a fund of £100,000. This was still no match for last month's top rate from Canada Life, which remains at £3,520.
Meanwhile, the top providers all cut or held their level annuity rates. Aviva still has the top rate but its current offering has fallen from £6,020 to £5,990. Saga cut £250 off its annuity income falling to third place in the table with £5,750.
For smokers' annuities, Reliance Mutual's rate of £6,721 came out on top as this part of the market recovered. Just Retirement, a regular winner in the annuity rate tables, cut £572 from its rate, falling from second place to third with £6,268.
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