The average annuity today delivers just over £2,000 less income over retirement compared to one bought in March, when the Chancellor swept away the need for savers to buy the product in his Budget, according to retirement specialist MGM Advantage.
Average annuity rates have fallen in the third quarter of 2014 by 2.38%, MGM's research suggests. The average standard annuity rate fell by 3.01%, while enhanced rates fared slightly better, reducing by...
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