Norwich Union has displaced Aegon Scottish Equitable as the firm offering the most competitive level annuity rates, according to Alexander Forbes.
The firm has improved its level rate by £140 since June - to £7,150 per year for a 60-year-old male purchasing a £100,000 annuity with level escalation. During the same period, Aegon Scottish Equitable improved its rate by £116 to £7,144 per year. Alexander Forbes says inflation-linked annuity rates are beginning to move, with Prudential and Norwich Union both improving their income, but adds they “continue to disappoint” across the board. LV= is offering the leading rate for smokers annuities at £7,998 per year for a male aged 60 with level escalation on a £100k purchase, but Reliance M...
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