The Bank of England has decided to print extra money as a way of boosting the economy. Otherwise known as ‘Quantitative Easing’, this change could seriously reduce the amount of regular income you receive from your pension savings by causing annuity rates to fall. So, in order to avoid missing out on a higher retirement income you should consider acting quickly.
Joanne Segars, Chief Executive of the National Association of Pension Funds, has commented, “Retirees who get locked into a weak annuity will find that the Bank’s money-printing leaves them out of pocket for the rest of their lives.”
Our free annuity comparison service could help get you up to 72% more income from your pension savings, just like one of our customers. The usual increase for an enhanced annuity is up to 40% and is dependent on health and lifestyle choices.