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Retirement

VIDEO: Tips for people reaching retirement in a post-Brexit vote world

Joanna Faith
Written By:
Joanna Faith
Posted:
Updated:
28/09/2016

Are you approaching retirement and concerned about rock bottom annuity rates? This five minute video explains what other options are available to you.

Annuity rates have plunged to record low levels, unnerving people who are near to retirement.

They’ve dropped so low that a £100,000 pension pot would now get you an annual income of around £4,500, whereas this time last year you’d have got around £5,900.

There are other options for retirees. They can choose the drawdown route, which would mean keeping their pension pot invested in the stock market. There are also hybrid products offering some flexibility and some guaranteed income.

We’re joined by Richard Parkin, head of pensions policy at Fidelity International, to find out more.