The average saver cannot be expected to analyse annuity rates and select a product that aligns with their circumstances and risk appetite without support, writes Matthew Morris
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 ...
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