The role of annuities: 'Placing the onus on savers to act autonomously is improvident'

Having spent some years in the wilderness post-pensions freedoms, annuities have been welcomed back into the fold as a popular retirement strategy, boosted by rising interest rates in the first half of the 2020s.  Interest rates have since fallen over 100 basis points from their high of 5.25% in 2024 and yet annuity rates remain robust.  Data from the latest Standard Life Annuity Rates Tracker shows there was a 10% year-on-year improvement in average annuity rates in May, with rates reaching 7.7% for a healthy 65-year-old.  So it's understandable that iPipeline has reported record ...