Aviva still top for annuities but rates fall over year

This is also a severe drop compared to Aviva's rate in November 2009, which was £6,300. Saga's rate recovered after a heavy cut in October, climbing £150 over the month to £5,900 and it was second place for both level and RPI annuity rate rankings. Smokers' rates held steady over the period after severe cuts in October. Reliance Mutual came out on top with £6,721. Rates are all based on a 60-year-old male annuitant with a £100,000 pension pot. "The long term trend in annuity rates remains downwards as longevity increases, though from time to time changes in gilt yields can give ...