Best & Worst Annuity Rates widen

Although annuity rates have risen over the past few weeks which is welcome news, the gap between the best and worst rates available on the open market have actually increased as some providers fail to pass on the increased rates. 

In July 2010 the difference between the best £60,000 single life level annuity for a male age 65 was 9.9% higher than the lowest (£3959 p.a. against £3600 p.a.).  By December this gap has increased to 21.6% (£4022 p.a against £3307 p.a.).  The gap for female annuity rates is even worse and has grown to 26.3% (£3801 p.a. against £3016 p.a.).

This highlights how important shopping around can be to your income.  If you had a pension with AXA, who currently quote the lowest annuity rates, and take the internal annuity offered without shopping around your income could be between a fith and a quarter lower than it would be with the highest provider.

We will provide a FREE, personalised, no-obligation, written quote of the best annuity rates available to you.

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