Cost of living could put annuities back on the radar

The rise of income drawdown appealing those wanting more flexible access to their retirement income has resulted in annuities losing popularity in recent years, however there has been a recent uplift in the rates available. Wealth At Work director Jonathan Watts-Lay suggested with "annuity rates on the rise", they could be an option worth exploring for those looking for more security. He said: "This could be particularly true for those concerned about the impact of the cost of living crisis, as an annuity provides a guaranteed income, and can be indexed linked." A lifetime annuity ...