Aviva: Retirees should be forced to shop about for an Annuity

Shop about for the best annuity ratesIn a welcome move Aviva have taken the unusual step of arguing that retirees should be forced to shop around for the best Annuity rate. The head of Aviva’s UK Life arm, David Barral, said: “The current retirement market is failing today’s retirees and the situation needs to be addressed as a matter of urgency,” he continued “without action now, this could mean serious consequences for the retirement income and security for future generations.” “Aviva is calling for changes throughout ...

Annuities: how much does each option you choose affect your income?

Most of us know that when you buy an Annuity you have to make a few choices. Should the income be paid monthly or yearly? What guarantee period do you include? Do you include a spouse’s pension? How much would you like your spouse get on your death? These are just some of the decisions you will need to take. As a rule the more options you add to your Annuity, the lower the starting income will be, but just how much difference does each option make? We thought we would take a look. Costs v Benefits The three most popular benefits ...