Property News · September 14, 2016

Annuity rates plummet, making 2016 'worst year for payouts'


Average income for retiring pensioners has fallen by 15% so far, MoneyFacts data revealsAnnuities have suffered their worst year on record, with payouts to newly retiring pensioners falling by 15% so far during 2016, according to data provider Moneyfacts.Annuities are an income for life, whereby those retiring can swap their pension savings accumulated while at work for an agreed fixed income, paid out every year until they die. Continue reading…

Source : theguardian.com
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