'Annuity is an option everyone should consider', say IFAs

Advisers on annuities as part of retirement income strategies

Ayesha Venkataraman
clock • 3 min read

As annuity rates hit a 14-year high, people approaching retirement should seriously consider taking guaranteed income as an option ,advisers have said.

A 52% increase in average annuity rates this year has pushed them to a 14-year high, according to recent research from Canada Life, leading advisers to recommend it as increasingly favourable option. Public relations platform Newspage surveyed a range of IFAs asking their opinions on annuities as part of retirement income strategies in light of soaring rates. "Annuities provide a guaranteed income for life, which removes the uncertainty of whether a drawdown pension will last throughout retirement," said Page Kirk Financial Services partner and chartered financial planner Fabian Taylo...

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