Annuity market delivers good rates for majority-ABI

It says the findings show the market delivers good rates for most customers, including many of those who do not change provider. The research also notes almost 80% of joint life annuities are sold at a rate above 95% of the highest rate. This compares favourably to FSA figures from 2002 which showed 80% of joint life annuitants received a rate of between 85% and 95% of the highest rate available in the market. The ABI research also found the UK pension annuities market has tripled in size in the last 15 years. In 2007, premiums in the pension annuities market were over £11bn and over 400...