UK pension annuities under threat as rates plummet

They turn savings into an income for life - but demand has fallen sharply

This week pension annuities collapsed to an all-time low. So are they now a pointless purchase?

It is a product that turns your pension savings into an income for life, but demand has fallen off a cliff since the government introduced a range of "pension freedoms" in 2015 that meant people no longer had to take one out.