OMO essential as annuity rates hit 'tipping point'

The financial services provider says level annuity rates are dipping in September – a top level rate from Norwich Union has dropped £110 - suggesting the market may have reached the end of its bull run. It adds pensioner inflation is running at around twice the official rate and argues retirees must begin to think carefully about safeguarding their retirement income, including assessing the benefits of investment-linked products. “With annuity rates slipping and pensioner inflation rising, retirees must make the most of the Open Market Option,” says David Marlow, director at Alexander For...