With rates for annuities falling and the stock market hard to predict many of those approaching retirement maybe wondering whether now is the best time to buy an annuity or whether they should delay a purchase. We would argue the best thing to do is if you are going to buy an annuity that you do so without delay. Each month you delay buying an annuity is a month without retirement income from your pension fund. If you delay a year you have missed an income source for 12 months, whereby annuity rates could have even got worse. Of course rates might improve and you could get a higher income, but there is no guarantee of this. If you have other sources of income such as rental income from properties then it may make sense to delay buying an annuity, especially if you are planning on purchasing an annuity linked to the stock market performance, such as a with-profits annuity.
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