01 September 2010
It has been reported that millions of people attaining
retirement age could be affected by the worst pension payouts since
records began.
Investment Life and Moneyfacts have reported that the average
rate for a man reaching 65 will purchase an annuity 6.3% less then
was available in August 2009. The average woman will purchase an
annuity which is 5.6% less.
To read the report click here
It is estimated that as many as two-thirds of people fail to
take advantage of the open market option. This is the option that
allows savers to buy an annuity with another insurance company. It
is not always the case that the pension provider you have your
pension fund with will be offering the best deal.
It is also important that savers purchase the annuity that best
suits their circumstances.
To help people with their annuity decisions, we have designed an
Annuity Planner to explain the different key issues available, to
use this click
here
