Income levels from standard annuities have fallen to all-time low levels just three weeks after pensions freedom and choice was introduced, according to Moneyfacts research.
The website said retirees who had delayed making a retirement income decision ahead of pensions freedom would now be counting the cost of delay if they now chose to buy an annuity contract. It said...
Equates to seven million people
Beware ‘sting in the tail’
Still 66% women in lower quartile
Led by Aberdeen Standard Investments
Introducing admin fee