Despite pension freedom and the recent dip in rates, annuities still provide a source of certainty for three emerging groups of retirees, according to Greg Neilson
The humble annuity goes back a long way. A Norwich Union 1820 proposal states "by purchasing a deferred annuity those who are at present able to procure livelihood, may provide a comfortable support for themselves, when they shall have arrived at an age, at which the ability to labour may be lessened, or exertion become irksome." Times have moved on, but we believe annuities are just as relevant to customers today. The introduction of pension freedoms in 2015 heralded greater choice and the annuity market saw a steep decline. Moderate recovery Many commentators have talked about t...
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