Annuities aren’t sexy

Partnership, the specialist impaired life annuity provider,  sent round an attention catching email this afternoon headed “Annuities aren’t sexy but neither is flipping a burger when you’re 81.”

Accompanied by a photo of an elderly lady suitably attired in her fast food uniform this was to promote a service called the Target Income Calculator to help people calculate how much income they need to cover their basic requirements in retirement and then to compare that with the total pension fund available to them.

From next April such a calculation is going to become very important for those who choose to exploit the freedom and choice in pensions changes that will be introduced.

I can’t help agree with Partnership, as a financial instrument there is little that can be described as “sexy” when it comes down to an annuity.

But then again running out of money in retirement isn’t particularly attractive either.

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