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Investment-linked annuities give retirees greater choice

Retirees&#39 investment choice has broadened significantly with a tripling of the number of products available in the past two years.

The trend for diversification away from the standard annuity is growing among annuity providers. The Annuity Bureau estimates that investment-linked annuities now account for one fifth of the total annuity market, up from five per cent in 1998.

Annuity Bureau managing director Peter Quinton says: ” Over the past 12 months we have witnessed a hike in investment confidence among the majority of retirees. This is partly due to increased prosperity and partly to the current low status of annuity rates.”

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