Alexander Forbes

Steve Watson takes a look at the debate on pension fund charges

OLYMPICS LEGACY

Retirement Planner's round-up of the top pension stories this week.

The average pension saver has lost £2,750 a year from their future income in retirement over the last year, research finds.

Annuity rates have fallen across the board for December as gilt yields have plunged to record lows.

The average worker in a defined contribution (DC)pension scheme has lost £1,300 a year of future retirement income in the last six months, Alexander Forbes said.

The average worker saving into a defined contribution (DC) pension will be £10,000 a year worse off in retirement than those saving at the same rate in 2000, Alexander Forbes says.

Annuity rates across the board have risen slightly over February, according to Alexander Forbes Annuity Bureau.

Aviva holds the top spot for level annuity rates this month, despite dropping £20 over October to £5,970 per annum.

Smokers annuity rates rose in October after months of inactivity but RPI linked and level products were cut, according to Alexander Forbes Annuity Bureau.