Chartwell points finger at L&G annuity pensions policies

Investment management firm Chartwell says combining an existing pension policy into one annuity contract, while seemingly a sensible strategy, is not an approach taken by Legal & General to give the investor a better deal. Chartwell says all annuity firms offer the annuity purchaser the option of combining the plans, as this offers the annuity rate applicable to the overall purchase price of the annuity not just the new element bought. Chartwell uses figures taken from annuity tables on the Exchange, for a male aged 65 on a single life, level basis, paid monthly in advance with a 5-yea...