How to build your very own annuity

Pension changes mean you need to take charge of your retirement, says David C Stevenson.

The changes made for savers in this year’s Budget – freeing up pensions and increasing Individual Savings Account (Isa) allowances – are great news. But they do mean that older investors need to think hard about how to invest for the future.

Annuities were, and in many cases still are, wonderful devices that give retirees the two things they crave most: certainty of income and simplicity. Say you are a 65-year old male about to retire. If you paid £100,000 for a single-life [...]

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