What to do when the annuity egg cracks

The annuity is the default product of choice for 90% of people who are retiring. It provides a guaranteed income for life, which is a simple, reassuring concept for people as their income from work stops or reduces. As chairman of Annuity Direct, you might be forgiven for thinking that I’m a huge fan too, but I also understand their limitations and when alternatives should be considered. The first limitation of an annuity is whether it is good value for money. Effectively, you are handing over your pension savings in return for a fixed rate of return. What rate of return do you get? T...