Pensions 

Don't discount annuities until you are clear on your situation

Don't discount annuities until you are clear on your situation

Over-55s have never had more freedom in the way in which they can use their life savings. Changes to pension rules in 2015 mean that millions more investors have the option of keeping their pensions invested and drawing income from them, rather than exchanging them for a fixed income from annuities, which have been paying some of the worst rates since their inception. However, there are also concerns about whether retirees risk hardship in retirement if they do not opt for an annuity.

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