RETIREMENT savers are losing thousands of pounds every year by failing to select the best annuity option, according to Just Retirement.
The company claims some pension policyholders could lose up to the equivalent of 15 years of extra fund performance by not investigating the benefits of an enhanced annuity. It quoted a survey that showed the average maturity of with-profits pensions was £56,518 over the last 15 years to this January. The top performing policy over the period produced more than £77,000, however, an extra 36pc. Just Retirement said failure to choose an enhanced annuity by those eligible for the products could mean they are no better off than a person with a much lower value pension pot at retirement. ...
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