When George Osborne announced Pension Freedom some two years ago, many people predicted the end of the Annuity, suggesting that the new found freedoms would make the traditional way of turning a pension pot into an income obsolete.
So, one year on from the start of Pension Freedom, has the humble Annuity died the death that so many predicted?
New research from Retirement Advantage helps us answer the question, but before we look at that in more detail, it is worth quickly reminding ourselves how an Annuity works.
Annuities – the basics
In simple ...