Retirement 'not all about pensions' as savers help annuities take flight

A look at mixing guaranteed and non-guaranteed income

Hope William-Smith
clock • 1 min read

Putting guaranteed and flexible non-guaranteed income together gives a “best of both worlds in retirement” scenario to those at the close of their working life, according to Guiide.

The pension drawdown tool provider today (11 November) drew attention to how rising interest rates are driving people at the point of retirement to purchase annuities again, citing Financial Conduct Authority retirement income market data from earlier in the year. The regulator found lifetime guaranteed income (annuity) purchases increased by 13% to around 68,500 purchases during 2021/22. Canada Life research last monthly confirmed annuity rates are currently at a 14-year high which means the break-even point - the point at which someone would receive your original pension back throug...

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