annuity rates

Philip Brown, Head of Retirement Products at Partnership Ltd, offers some essential tips to securing the best retirement income for clients

Ignorance of how health can positively influence annuity rates costs retired people £1.25bn in pension benefits a year, according to research by Partnership.

The impact of means-testing on people saving in personal accounts might have been ‘underestimated', leading to potential 'mis-selling', warns the Association of Consulting Actuaries.

Pensions cuts of nearly 80% in the last 10 years, as a result of lower returns on investments and reducing annuity rates, could leave savers in a National Pension Savings Scheme (NPSS) with inadequate pensions, claims consulting firm Watson Wyatt.

Research suggests there is as much as a 30% difference between the best and worst annuity rates in the market, says GE Life.