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Article: A wide gulf.
- Article from:
- Money Management
- Article date:
- October 1, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Geordie Clarke
Why are some annuity providers able to offer much better rates than others? Geordie Clarke investigates
Annuity rate tables have made for fairly grim reading lately, as they have followed a downward trend in the past year.
While the Alexander Forbes Annuity Bureau has recently reported that level annuity rates have held steady during the past month, they have in fact fallen by 8% during the past 12 months: in September 2008 a 60 year old male could have received GBP7,040 pa on a GBP100,000 pension pot, while today it is GBP6,470, Alexander Forbes reported.
This is not a sudden change in circumstances for ...