Some surveys go a bit too far. Now we have Norwich Union comparing the likely pension annuity payable to Jack Duckworth, Ken Barlow, and others. They looked at the individual circumstances of some of the nation’s best-loved soap characters and assessed the pension annuity that they might be in line for.
Norwich Union, a leading annuity provider, found that the annuities that the pair would receive from a £30,000 pot were some £1,700 higher for Jack, due to Jack’s status as a widower and a smoker. Apparently, Deirdre Barlow would be £4,309 better off over the course of her lifetime.
Clive Bolton, director of annuity business, Norwich Union, explianed the situation for clarity: “Our new lifestyle rates help people understand that it is not the more affluent areas that do best when it comes to annuity rates.”
What we can take from this odd illustration is that it is important that people take the opportunity to shop around for the best annuity rate, the best deal, especially those that are tailored to them and their lifestyles. When we are all feeling the pinch, shopping around can result in individual’s being better off.
I suppose because these are people we ‘know’ it is a good example of how annuity rates can vary according to people’s different circumstances.
