The point that always gets overlooked, or possibly misunderstood,

is that of improving mortality. People are living much longer in retirement, therefore the same amount of money is not going to provide the same amount of income for an extended period of retirement.

Also, annuities are underpinned by Gilts, which have been in high demand, and therfore the price goes up. When the price goes up the yield goes down. Double-bubble. Something has to give...

Posted By: tudders, Nov 28, 14:00:44