Traditional fixed annuities face extinction due to increasing longevity

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Increased longevity figures, as highlighted in a recent Department for Work and Pensions report, will dramatically increase pensioner poverty, MGM Advantage predicts.

The retirement income specialist said increased longevity rates have caused conventional annuity rates to fall by 7.9% between June 2009 and December 2010 and, based on its own research, a long-ter...

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