In Brief
Those putting off their annuity purchase in the hope of giving their pension time to recover from market volatility could lose up to £5,000 of income, according to Key Retirement Solutions.
KRS reported a surge in the number of people delaying buying an annuity over the last month as share values have fallen.
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Hide AdBut annuity rates have also fallen over that period, by 3 per cent. Someone retiring with an average £100,000 fund a month ago would have secured a retirement income of £6,831, compared with £6,624 now, equating to £5,000 over 25 years.