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Persistently low interest rates are threatening the viability of with-profit annuities, and one leading life assurer has announced that it will no longer offer this kind of pension. When interest rates and bond yields were higher, a typical with-profit annuity could provide pension increases that kept pace with inflation over the long term, but current market conditions are making that nearly impossible. Personal Finance explores the problems in the with-profit annuity market and the implications for you when you need to purchase a pension.
Also in our weekend print edition:
* Funeral assurance industry finds ways to sidestep consumer protection laws
* Honouring a career dedicated to fighting for your rights as a consumer and investor
* Enticing interest rates from new mutual bank
Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus.