Platforms & Pensions
Whether it ’ s Covid-19 , the war in Ukraine or our hapless government shooting us all in the foot with poorly conceived fiscal policy , if you were planning to retire anytime soon , you may need to reconsider
market conditions you need to draw down money from other sources such as cash reserves , although maintaining a significant exposure to this asset class at a time of high inflation is also counterproductive . While I was thinking about how you could source income during these negative market cycles , a press release from Hargreaves Lansdown caught my eye .
Go with what you know Data from the platform ’ s annuity quote service shows a 65-year-old with £ 100,000 can now obtain an annuity income of £ 7,532 per year . This is a whopping 45 % increase on the £ 5,208 best-buy income from October 2021 . Rising inflation and sky-high gilt rates caused by the mini-Budget have sent annuity rates soaring . I ’ ve been hearing murmurings that
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