Annuity shoppers: hold on for better rates

Annuity rates are already rising. But as David Prosser explains, shoppers shouldn't jump in just yet.

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Mark Carney: is he plotting more rate rises?
(Image credit: 2017 Getty Images)

Although increasing interest rates by a quarter of a percentage point doesn't seem earth shattering, the Bank of England chief Mark Carney's decision last week to hike rates up for the first time in more than a decade has several implications for pension savers.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.