The 'Choice' is yours

Tell me about the income choice annuity - what customer need was it meant to address? Why have you chosen to launch it now? At present, annuity rates are fairly low and Retail Price Index (RPI) is in negative territory, which means people who take their annuity when markets are low have little potential for growth. People are living 25 or more years into their retirement, which is a long time without a payrise to meet changing economic circumstances. Many people, often those with relatively small pension pots, find that they are only able to choose a level annuity which does not respo...