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    Alexander - a silly season story in the Mail. Nothing new there. What it refers to are annuity rates, something based on long-term government bond rates, reflecting interest rates. Lower inflation/interest rates since the early 80's have indeed led to a steady drop in annuity rates so every £1,000 of pension buys a lower income. The low interest rates at the moment do mean lower annuity rates but with an added risk of default to be factored in.

    What is really foolish are people (65% of people) accepting the annuity rates offered by their pension companies instead of exercising their open market option. By going to the open market you might get as much as 30% or even more income in retirement.

    What that has to do with Charlie's proposals I really do not know. Perhaps you should familiarise yourself better with what Charlie is saying along with the differing types of bond and the difference between equities (shares) and bonds.

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