Annuities - the state to provide guaranteed annuity rates
Let’s have a set of annuity rates that are guaranteed by the state , so people know EXACTLY what they will get. The state guarantees to provide you with a pension in exchange for your retirement pot, at guaranteed rates. If insurance companies offer you a better deal – fine, that’s up to you, you can still do that,. This idea is an underpin. Should be available to anyone with any type of retirement money purchase fund – be it personal pension, SIPP, stakeholder, AVCs etc. Exchange part of your fund and keep the rest where it is –offer people chance to hedge their bets.
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