Govt must rethink lifetime allowance in light of 'gloomy' annuity outlook

Rate cut signals 'bleak' future for annuities

Govt must rethink lifetime allowance in light of 'gloomy' annuity outlook

Cuts to the lifetime allowance (LTA) should be reversed, or the limit scrapped altogether, in light of the bleak outlook for annuity rates, an adviser has said.

The Bank of England's (BoE) move to cut interest rates to 0.25% has negatively affected annuity rates - already at record lows - as they are based on government bond yields or gilts. The LTA, the total...

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