For retirees who want income without the long-term commitment of a lifetime annuity, fixed-term options can be a smart solution, if someone understands the pitfalls, writes Steve Butler
As annuity rates improve and living costs rise, more retirees are turning to annuities to secure a stable income in retirement. A recent study by Legal & General highlighted that around one in seven workers aged over 50 are considering an annuity at retirement. Advisers can play an instrumental role in guiding retirees through the complexities of annuities, including choosing between lifetime and fixed-term options. They also ensure clients understand how rates, provider options, and product features match their individual needs. Financial advice to ensure the right choice The la...
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