Is this the right time?

The argument for whether or nor to defer an annuity purchase is well worn, but I would like to revisit it, considering the age of falling interest rates in which we live. There are approximately 700,000 50-year-olds in the UK, according to the Office of National Statistics (2007). There are similar numbers of 49, 51 and 52-year-olds who will have a similar dilemma. Those of the 700,000 that hold a private pension have just over a year to decide whether they take their pension before April 2010 or wait until 2014 (or they reach 55 following the increase in the lowest retirement age). A...