18 April 2013

Annuity Rates Increasing?

The latest MGM Advantage Annuity Index shows that average annuity rates have actually increased by 3% in the first quarter of 2013.

That's the first increase for two years!

To demonstrate how bad things have become, here's a comparison of an annuity purchase this year and in 1998, with a sum of £50,000:

March 1998: £4,885 per year
March 2013: £2,875 per year

Equally amazing is that you would expect to live 3 years longer if you are 65 in 2013 than someone who was 65 in 1998.

For advice on the best approach to getting an income in 2013, get in touch:

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