Business · 1 hour ago
More retirees buying fixed-term annuities to cover years before state pension
Graphic: BriefTea
Standard Life indicates a 62-year-old with a £100,000 fund could receive about £13,800 annually over five years, plus a £50,000 lump sum. A £13,800 annual payment exceeds the £12,548 provided by the full new state pension, which commences at an age increasing from 66 to 67 in April 2028. Canada Life, another provider, notes a substantial increase in interest for its equivalent product.
Reported by The Guardian · How we write briefs