New Home Owners And Snagging Forum
Investments => Cash ISAs and saving accounts => Topic started by: The Prophet on November 21, 2011, 01:34:36 pm
-
Annuity rates have fallen due to falling gilt yields - a result of quantitative easing (QE).
A £100,000 pension fund will now buy a 65 year old man only £5,932 a year.
In July 2008 he would have been able to get £7,855 – nearly a third more income every year for the rest of his life.
In 1990, the £100,000 would have bought an annuity giving an annual income of £15,000 a year.
An alternative may be a fixed-term annuity. These enable you to buy an annuity now for a short period and look for a better one later on when rates may be better.
For some, an investment-linked annuity may be an alternative.
It is essential that anyone considering buying an annuity that they get the best independent advice and shop around.
Specialists include: Annuity Direct, Hargreaves Lansdown, Better Retirement Group, and Retirement Angels, Key Retirement Solutions