Annuity pressure

Prudential offering highest paying annuity for over 65s against rising competition

The Prudential is offering the top paying level annuity for men and women aged 65 on a single life basis as rates come under pressure in the low gilt yield environment. According to the Annuity Bureau, Prudential is offering a level annuity of £8,868.60 per year for a man aged 65 on a single life basis and with a £100,000 purchase price as of 1 November, the equivalent female rate is £8,178.48. Also in the top 10 is Scottish Equitable, which pays £8,613 as a level annuity to a man aged 65 on a single life basis while for the female equivalent, Friends Provident pays £7,945.56. Peter Q...