Investment - Articles - Annuities still impossible to beat for some people

 “The Chancellor said that pensioner poverty at its lowest level ever. We need to ask the question, what will pensioner poverty look like in years to come given those age 55+ will be able to start spending their pension savings from next month, and the announcement today that existing pensioners will be able to sell their annuities.

 “Annuities have had a bad press. The reality is if you’re looking for a guaranteed lifelong income they are impossible to beat. We need to remember that men underestimate how long they will live for by 5 years and women by 8 years. There’s a very real danger people will run out of money at some point in retirement if more guidance and support isn’t put in place, starting at age 55 and lasting through to the end of life. Online tools will be the best way to deliver that support.”