Savers urged to be wary over annuity income gap

The best guaranteed income plans generated an additional 16% income in retirement

Martin Richmond
clock • 1 min read
Savers urged to be wary over annuity income gap

Retirees purchasing annuities – so-called guaranteed income for life (GIFL) products – should be wary of falling into a ‘loyalty trap’ that could see them missing out on substantial income in retirement, Just Group says.

The retirement income product provider said its analysis had revealed that the gap between the best and the worst guaranteed income rates had widened to a four-year high - with those purchasing the...

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