Annuity rates fall after winter stability

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Annuity rates tumbled in April after a brief period of stability during the winter, according to Alexander Forbes Annuity Bureau.

Womens' annuities fared better than those for men, and smokers benefited from a rise in top rates. The top performing level annuity for a male aged 60 with a £100,000 pension pot was £6,280 from Aviva, down from £6,420 a month ago. Women fared slightly better, with Aviva's equivalent rate falling from £6,070 to £5,960. Smokers were the only group to see an improvement in rates, with a 60-year old male spending £100,000 able to get an annuity of £7,086 from LV=, compared to Reliance Mutual's top rate of £7,023 a month ago. Tim Whiting, director of the Alexander Forbes Annuity Bur...

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