UK pension annuities under threat as rates plummet
by Rupert Jones from Economics | The Guardian on (#4QAZ6)
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.
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