Belfast Telegraph

Pension annuity incomes nosedive

The squeeze on Britain's retirees was highlighted again after it emerged that men's pension annuity incomes plunged at the steepest rate in 14 years.

The average annual income generated by a standard annuity for a 65-year-old man slid by 11.5% last year, showing the sharpest fall seen since 1998, financial website Moneyfacts said.