Alexander Forbes warns on future annuity rates

Rates have remained stable since the beginning of the years, the firm's research suggests, but major currency fluctuations in recent weeks may cause rates to fall in the near future. While level annuities have remained largely stable, Canada Life has recently dropped both its level and RPI rates. Alexander Forbes Annuity Bureau believes this is an early indicator of more widespread reductions in retirement income levels. Aviva currently offers the top level rate, at £6,420 for a 60-year old male with a £100,000 pension pot. Smoker annuities have also remained stable, with Reliance...