When is an annuity appropriate?

When is an annuity appropriate?

Annuities used to be the most common form of retirement income, but the introduction of pension freedoms and the decline of gilt yields has seen their popularity dwindle in recent years. Andrew Tully, technical director at Canada Life, notes that 70 per cent of pensioners were taking out annuities 10 years ago, compared with a meagre 12 per cent now. 

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