Savers are facing a rare conundrum about whether to lock into a lifetime annuity amid unprecedented economic uncertainty, Hargreaves Lansdown says.
Projected annuity incomes have fallen again over the past four weeks due to flagging equity markets.
Over 80% of IFAs have predicted annuity rates will drop over the next five years, according to a survey from MGM Advantage.
Investors aged 50 to 55 who transfer their pension to another provider will not be hit with an unauthorised payments tax, HMRC says.
Annuity rates held firm in June ahead of the Emergency Budget, following several months of falling prices.
Government opposition to forced annuitisation ignores the fact people want to buy the products, argues deputy chief executive of Prudential UK Barry O'Dwyer.
Partnership has launched an online solution to help advisers find the best annuities for clients retiring with funds below £30,000.
Aegon's head of annuity sales, Mark Cardy, has been made redundant as part of a restructure of the group's sales teams.
Annuity rates could be about to fall on the back of currency concerns, after several months of stability, according to Alexander Forbes.
Legal and General (L&G) is rolling out its Annuity Plus to all advisers following a successful pilot last year.