Annuity Delay Warning
Published / Last Updated on 20/04/2008
Annuity Delay Warning
Just Retirement has warned retirees about the costs involved in delaying annuity purchase.
Nigel Barlow, head of retirement income solutions said “in uncertain economic conditions, consumers may feel it wise to defer buying their annuity – especially if their pension funds have fallen in value. They may believe that by leaving the funds invested and hoping they will recover, they can then take advantage of a higher annuity at a later stage”.
Our view
We suggest that investment markets will recover significantly more than annuity rates may fall. This may present an advantage to some but not all potential pensioners who are retiring.
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