Recession catches up with annuity rates

Data from the Alexander Forbes Annuity Bureau found all types of annuity rates fell in January, with level annuities particularly badly affected. Norwich Union provided the best rates for 60 year old males, but cut its income from £6,810 to £6,760. Aegon Scottish Equitable made a big cut to its level rates, down to £6,490.08 from 6,992.04. RPI-linked rates fared the best of the annuities studied by Alexander Forbes, with Prudential's rates for both men and women rising by over £20 each. "Level annuity rates have continued to fall this month and there may still be further cuts ahead,...