Submitted by tom on
A survey of UK retirees and near-retirees reveals low levels of annuity awareness, and this is in a country where annuities are compulsory.
Survey results show that 48 percent of 55-64 year olds in the UK are unaware of what annuity products actually are.
Many of the survey participants (23 percent) think of annuities as investment funds.
Source: Prudential UK
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