The annuity market has come along way in recent years and nowadays there are more annuity types available than ever before. The big question is, which annuity is best?
Inflation has once again risen and this time to a whopping 2.7%, unfortunately meaning that households will have to find an extra Â£932 a year just to maintain their current standard of living.
In the last week it has been revealed that inflation rose to 2.7% in October, despite slowly decreasing throughout the year, which will unfortunately pose many difficulties for households across the UK.
Specialist retirement income provider MGM Advantage has announced how it will process annuity applications up to 21 December, prior to the new EU ruling making it illegal to use gender when generating rates.
The introduction of gender-neutral annuities is due to come into force on 21st December 2012 and even though it appears simple to offer everybody a fair and equal annuity rate, there are a few more complexities than meets the eye.
A governmental auto-enrolment plan to encourage over 10 million workers to save for retirement may be at risk due to poor annuity rates, it has been suggested.
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