Annuity incomes continue to rise ahead of interest rate decision

The next decision on interest rates later this week (11 May) could result in annuity incomes increasing even further in the coming weeks. The research by the firm suggested that a 65-year-old with a pension of £100,000 could generate an income of £6,782. Although annuity rates have drifted down from the heights experienced in the immediate aftermath of the Mini Budget last September, the rates remain 19% higher than this time last year.                 Head of retirement analysis Helen Morrissey said: "After drifting slowly down from their post mini-Budg...