'Good news' for consumers

Dear Editor, As a passionate advocate for retirement income innovation and increased choice for retirees, recent figures showing 31.9% growth in sales of enhanced annuities sparked distinctly mixed feelings. Watson Wyatt said sales of enhanced and impaired products reached £1.44 billion last year - more than a quarter of all annuity sales on the open market. Over eight years, sales have increased 240%. It heralded this level of growth as 'good news for consumers'. Enhanced annuities are seductive because they promise retirees a higher income than a 'healthy lives' annuity. But the figur...