New Home Owners And Snagging Forum
Investments => Cash ISAs and saving accounts => Topic started by: The Prophet on March 23, 2013, 11:10:41 am
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Why insurers love annuities
Have you ever thought why insurers do all they can to persuade you to take out an annuity with them?
Well they are making a huge profit from pension annuities at your expense!
Standard Life are the only firm to even disclose the profit margin they make on annuities - a massive 18.6%!
No wonder why the other providers are keeping quiet - they may be making even more!
Not only do providers steal your contributions in the form of annual charges taking a large slice of the growth of everyone's pension pot, but they even fleece you when you turn your badly performing pension "investment" into an income stream in retirement.
No wonder most people are better off putting cash in ISAs and keeping control of their own money.