Annuity rates stabilise ahead of Budget

The best level annuity rate from Saga of £6,180 was unchanged from May, the Alexander Forbes Annuity Bureau says. The majority of providers held their rates for the month with only Aviva and Aegon easing slightly. Retail Price Index (RPI) linked rates were also steady in June, with the top price from Canada Life of £3,586 unchanged on the month, according to Alexander Forbes. Rates have eased for the year to date however, to be down 5% - losing retirees around £180 annual income for every £100,000 saved. Smokers' rates have been more consistent in 2010, with the best smokers' ra...