Annuity rates: Gap between best and worst rises to four-year high

The firm's research of the market found the disparity between the least and most competitive annuity providers has increased to 18%, compared to 14% earlier this year. It calculated this gap would result in a prospective 65-year-old retiree with a pension pot valued at £50,000 receiving a guaranteed income of £3,470 a year with the most competitive provider, compared to £2,952 a year with the least competitive, which could lead to a prospective retiree missing out on over £500 in extra income per year for the rest of their life. Just said the gap emphasised the importance of "shopping...