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Telegraph Silent

Sam Brodbeck personal finance editor Telegraph- 21 Aug 2019

The silent killer taking £2,713 from your £100k pension

Annuity rates have been lousy for years. The pitiful income they pay are one of the reasons the Coalition government scrapped the effective compulsion to buy them, back in 2015, with the launch of "pension freedoms". Boris Johnson’s pledge to leave the European Union on 31 October “do or die” pushed the yield on government bonds – used to price annuities – to new lows. But sky-high commission more akin to the door-to-door salesmen of the Eighties are cutting pensioners’ take-home pay even further.

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