Labour has urged the government to ensure none of the 320,000 savers expected to take advantage of pension freedoms are exposed to “rip off charges”.
The average annuity rate has fallen in the third quarter of 2014 by 2.38%, according to the latest Annuity Index from retirement specialist MGM Advantage.
The average annuity today delivers just over £2,000 less income over retirement compared to one bought in March, when the Chancellor swept away the need for savers to buy the product in his Budget, according to retirement specialist MGM Advantage.
More than 90 per cent of over-65s have made no plans to pay for long-term care should they need it.
Ian Sayers, director general of the Association of Investment Companies, finds that it is the 'once and for all' element of an annuity purchase that deters many investors.
Pensions campaigner Ros Altmann is leading calls for a ban on automatic annuity purchases.
Uncertainty following the pension changes in the Budget has driven down demand for annuities by 43.8 per cent year on year, according to a new report.
As the Government gives details of its plans for pensions reform, Fidelity's Tom Stevenson explains the likely impact of the changes.
Ian Stott of The Consulting Consortium considers the cost of pension reform - and who will pay it.
The average annuity rate fell by 0.72 per cent in the second quarter of 2014, according to the MGM Advantage Annuity Index, and rates are expected to remain low into next year.
Young women underestimate the total amount they'll need to save to achieve their ideal retirement income by more than £400,000, according to new research.
A guaranteed income for life is still top priority for retirees despite Chancellor George Osborne scrapping the requirement to buy an annuity in this year's Budget.
The vast majority of pension investors still want a secure income in retirement, research has found, suggesting reports of 'the death of annuities' are premature.
The far-reaching pension reforms announced in this year's Budget have left retirees with more choice and freedom than ever before.
The average person significantly underestimates the length of their retirement, a survey has found.
Try our easy-to-use calculators and make your money work harder.
Speak to an adviser