Previously unfashionable product falls back into favour as people seek security amid financial turmoil
Mortgage rates are still soaring, stock markets have been tumbling, and high inflation is eating away at people’s savings. It is pretty grim out there but one financial product – which had been pretty much written off by many people – is looking a lot more tempting than it did a year or two ago.
An annuity is a product that turns an individual’s pension savings into an income for life, and there are predictions that many more people will now be looking at using some of their retirement cash to buy one.
