Newly retired pensioners on an annuity pension are receiving nearly half the income of those who retired 15 years ago, research has found.Annuity rates have hit record lows, plummeting by 45% since 1994.Annuities are used by people with defined contribution pensions, or personal pensions, to convert their savings into a retirement income.A 65-year-old man will [...]
Pension annuity rates plummet 45%
