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All about annuities: Harvey Jones reviews the current annuity market and examines the alternatives. (Annuity alternatives).
From:
What Investment
| Date:
August 1, 2003| Author:
Jones, Harvey
| COPYRIGHT 2003 Charterhouse Communications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Annuity rates are at an all-time low, and those approaching retirement understandably fear they will get a rotten deal.
Returns have been hit by a double whammy of falling interest rates and the slump in global stock markets. A single male aged 65 would get at best 7,000 [pounds sterling] from a 100,000 [pounds sterling] pension fund, even less if he wanted his income to rise in line with inflation, a paltry return from a lifetime of saving. Just six years ago, 100,000 [...
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