Saga is publishing an annuity guide to help those approaching retirement through the maze of options.
It says as annuity rates fell by 12 per cent last year- the second-biggest decline in eight year – the choices that people make are especially critical.
The guide covers a variety of topics, including descriptions of the different types of annuities.
It discusses the right time to start choosing an annuity, which type may be appropriate and the open market option.
It also sets out alternatives to annuities and hints on the next steps that prospective annuitants can take.
Saga, which specialises in offering a wide range of services to the over-50s, ranging from holidays to financial services and a radio station, offers annuities on an execution-only basis through a tie-up with the Annuity Bureau. Saga's customers avoid paying the bureau's usual enquiry fee of £58.75.