Take care with annuities

Two of Britain’s biggest insurers offer some of the worst annuity rates, says the Sunday Times.

It claims that Aviva and Standard Life both offer sub-standard annuity rates to thousand of people needing to convert their pension pots into lifetime income. While the paper urges readers to shop around, it also warns that many websites that appear to offer advice in fact charge large commissions and may guide people toward unsuitable choices.