Best and worst annuity rate gap widens with age

Just Group finds best-worst annuity gap is 16% at age 75, higher than other age groups

Jasmine Urquhart
clock • 1 min read
Best-worst annuities gap widens with age, Just Group finds
Image:

Best-worst annuities gap widens with age, Just Group finds

The gap between the best and worst annuities widens with age, analysis from Just Group has found.

By failing to shop around, a healthy 75-year-old with a £50,000 pension can miss out on 16% of retirement income a year (£650) if they buy the least competitive annuity, while in recent months the ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Communication

Maps has called on pension savers to ensure their nominated beneficiary details are up to date

Maps calls for more pensions beneficiary awareness

Research finds only half of savers know who their nominated beneficiaries are

Jasmine Urquhart
clock 10 November 2023 • 1 min read
Quietroom talked to a group of 16-year-olds about pensions

What Gen Z think about long-term saving

Quietroom talks to a group of 16-year-olds about money, pensions and communication

Jonathan Stapleton
clock 29 September 2023 • 4 min read
Image: Many aged over 50 expect to have a hybrid work and retirement lifestyle once they reach state pension age

Just a quarter of those now employed expect to fully stop working at retirement

Aegon says a ‘radical rethink’ of life and work after 50 is needed

Jasmine Urquhart
clock 28 September 2023 • 2 min read
Trustpilot